Elizabeth Banks rewears Oscars party dress 16 years later — see the look!

/ Source: TODAY

Actress Elizabeth Banks did a fashion rewind on Sunday, rewearing an Oscars after-party dress 16 years after she first debuted it.

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.