Olivia Wilde - Vanity Fair Oscar Party

Olivia Wilde looks drop dead gorgeous on the red carpet of the Vanity Fair 2012 Oscar Party, hosted by Graydon Carter at Sunset Tower on Sunday (February 26) in West Hollywood.

The 27-year-old Cowboys & Aliens actress was seen taking a hike in Griffith Park with her pup Paco on Friday in Los Angeles! And on Saturday she hung out with Rosario Dawson at the Spirit Awards!

PHOTOS: Check out the latest pics of Olivia Wilde!

Billy Crystal hosts the 2012 Oscars live TONIGHT at 8:30 p.m. ET/5:30 p.m. PT on ABC!