Choose three of your favorite cocktails and pre-mix them before the party begins. Pour them into cocktail glasses and set them up in rows on the table so guests can pick up a drink when they arrive. This gives the host time to enjoy the party without playing bartender each time a new guest walks in the door. It also presents an opportunity to tie in the cocktails to the theme of the party. Simply change the cocktails' traditional names to fun fashion-related names that tie in with the Oscar Fashion theme.
Here are some to try:
The Little Black Dress (alternately, ‘The LBD') - Black vodka and soda