Elizabeth Banks during the 2004 Vanity Fair Oscar party in Beverly HillsTerry McGinnis / WireImage
The dress, a Badgley Mischka scarlet chiffon, spaghetti strap gown, was repurposed with designers Mark Badgley and James Mischka for the Vanity Fair Oscars after-party on Sunday night.
Elizabeth Banks attends the 2020 Vanity Fair Oscar party in Beverly HillsJEAN-BAPTISTE LACROIX / Getty Images
One of the major differences between the versions was the dress' back.
Elizabeth Banks in 2004 ...Jon Kopaloff / FilmMagic
Banks ditched the more elaborate bejeweled designs that adorned the back in 2004.
... and Elizabeth Banks in 2020.Frazer Harrison / Getty Images
Instead, this year she opted for simple spaghetti straps, updating the 2004 look and making it more timeless than ever.
Alexander Kacala is a reporter and editor at TODAY Digital and NBC OUT. He loves writing about pop culture, trending topics, LGBTQ issues, style and all things drag. His favorite celebrity profiles include Cher — who said their interview was one of the most interesting of her career — as well as Kylie Minogue, Candice Bergen, Patti Smith and RuPaul. He is based in New York City and his favorite film is “Pretty Woman.”