A banquet was among the festivities that the First Couple was invited to as a part of President Obama’s receiving the Nobel Peace Prize. For the occassion, the First Lady picked a pale blue evening gown and matching jacket by designer Azzedine Alaïa. The gown has a relatively simple top with double straps on each shoulder and beading around the trim, but from there it gets interesting. There is a wide sequined band separating the top from the skirt, which is composed of alternating bands of sequins and pleated fabric. Mrs. Obama accented the outfit with satin pumps, and very modern, long, dangling earrings.