Elizabeth Debicki shows off her cleavage in a very plunging red satin dress

The Crown’s Elizabeth Debicki shows off her cleavage in a plunging red satin gown as she takes the stage at the Costume Designers Guild Awards.

She earned critical acclaim last year for her portrayal of Princess Diana.

And Elizabeth Debicki followed up the late Royal with another glam look as she took the stage for the 25th Costume Designers Guild Awards at The Fairmont Century Plaza in Los Angeles on Monday.

The 32-year-old Crown star showed off her slender physique in a plunging red satin gown as she presented the award for Excellence in Sci-Fi/Fantasy Films at the coveted event.

Elizabeth showed off a hint of her cleavage in the extremely low-cut dress with a billowing skirt as she posed on the red carpet ahead of the ceremony.

The Australian actress also met with Baz Luhrmann, who directed the 2013 film The Great Gatsby, which marked her first major role in the US.

Glamor!  She attended the 25th Annual Costume Designers Guild Awards at The Fairmont Century Plaza.

Lady in Red! Elizabeth Debicki put on a busty display in a plunging red satin gown as she attended the 25th Costume Designers Guild Awards at The Fairmont Century Plaza on Monday.

Attractive!  The Crown star showed off her slender physique in a plunging red satin gown as she presented one of the awards at the coveted event.

Attractive! The Crown star showed off her slender physique in a plunging red satin gown as she presented one of the awards at the coveted event.

Developer!  Elizabeth showed off a hint of her cleavage in the extremely low-cut dress with a billowing skirt as she posed on the red carpet ahead of the ceremony.

Developer! Elizabeth showed off a hint of her cleavage in the extremely low-cut dress with a billowing skirt as she posed on the red carpet ahead of the ceremony.

Elizabeth’s gown boasted a loose fit and a dangerously plunging front held up with thick gold chained straps, which flowed into a floor-length skirt.

She kept her blonde hair in loose waves as she arrived on stage with the award in hand.

Backstage, Elizabeth was seen posing with Austin Butler, the star of Baz’s latest film Elvis and a heavy favorite to win the Best Actor Oscar next month.

At the ceremony, several extraordinary names in costume design took home awards, with the top winners being Elvis, HBO’s House of the Dragon and Netflix’s Wednesday.

For Elvis, Catherine Martin took home the Excellence in Period Film statuette, and star Austin presented her with the honor.

He won over movie designers like Babylon, Don’t Worry Darling, and The Woman King.

For Excellence in Science Fiction/Fantasy Television, House of the Dragon costume designer Jany Temime won the award.

It beat out the designers of The Lord of the Rings: Rings of Power, Westworld, and The Witcher: Blood Origin.

Honored!  Elizabeth Presented the Award for Excellence in Sci-Fi/Fantasy Films to Shirley Kurata for Everything Everywhere All at Once

Honored! Elizabeth Presented the Award for Excellence in Sci-Fi/Fantasy Films to Shirley Kurata for Everything Everywhere All at Once

That honor!  She proudly took the stage with the award in hand before the presentation.

That honor! She proudly took the stage with the award in hand before the presentation.

Praised: Elizabeth earned critical acclaim for her portrayal of Princess Diana in the fifth season of The Crown

Praised: Elizabeth earned critical acclaim for her portrayal of Princess Diana in the fifth season of The Crown

Looking good!  She was joined by also the presenter and star of Elvis Austin Butler, one of the great favorites to win the Best Actor award at the Oscars.

Looking good! She was joined by also the presenter and star of Elvis Austin Butler, one of the great favorites to win the Best Actor award at the Oscars.

Together again!  The Australian actress also met with Baz Luhrmann, who directed the 2013 film The Great Gatsby, which marked her first notable role in the US.

Together again! The Australian actress also met with Baz Luhrmann, who directed the 2013 film The Great Gatsby, which marked her first notable role in the US.

Ready for tonight?  She kept her blonde hair in loose waves as she arrived onstage with the award in hand.

Ready for tonight? She kept her blonde hair in loose waves as she arrived onstage with the award in hand.

Big hitters: The ceremony saw several extraordinary names in costume design take home awards, with the top winners Elvis, House of the Dragon and Wednesday

Big hitters: The ceremony saw several extraordinary names in costume design take home awards, with the top winners Elvis, House of the Dragon and Wednesday

Wednesday: ‘Wednesday’s Child is Full of Woe’ costume designers Colleen Atwood and Mark Sutherland won for Excellence in Contemporary Television.

There were also several special prizes awarded throughout the night.

Bette Midler received the Distinguished Contributor Award and Angela Bassett received the Outstanding Award.

Oscar-winning costume designer Deborah L. Scott (Titanic and Avatar: The Way of Water) was honored with the Lifetime Achievement Award.