I’m watching the swearing-in on TV as I write this, and we’re still on Inaugural Gown Watch. Nonetheless, we do have a teaser: Michelle Obama’s outfit for the swearing-in, a yellow Isabel Toledo dress and matching coat that is, without a doubt, beautiful, flattering, and on-trend.

At the New York Times, Cathy Horyn reports that the outfit is “made of Swiss wool lace, backed with netting for warmth and lined in French silk.” Toledo custom-designed the dress for Obama, and didn’t know until she turned on her television this morning that it was the new First Lady’s choice. She’s also wearing teal shoes and, yep, bare legs. Beauty is indeed sometimes painful.

Michelle Obama in Isabel Toledo

Other fashionable ladies on the Capitol steps: Laura Bush looking regal in dove gray, Nancy Pelosi in a periwinkle coat, young Sasha Obama in orange and pink.

Photo from Reuters via WWD