This Elizabeth Peyton pencil drawing of a young Diana reading a Barbara Cartland romance novel as a 13-year-old is one of my most-treasured possessions. The stag is by Nymphenburg Porcelain, and the beaded clutch is by Antik Batik.

My denim pom-pom sandals are the cutest things ever and are perfect with cropped jeans and a white T-shirt. Here one sits perched atop a white marble Roman's sandal-clad foot sculpture designed by Kelly Wearstler. Sandals, Lanvin

This dress is Lanvin summer 2010, and it's the perfect work frock. It is prim and proper and ladylike while also being glamorous and just a bit arty, with the exposed zipper and frayed hemlines. The quilt was a project for my daughter's class at Wagon Wheel School, featuring the silhouettes and signatures of each child. It is completely handmade in wool felt. It was a much more ambitious project than we had imagined when it was conceived but also so much more beautiful than we'd imagined when it was delivered by Kelly Wearstler's seamstress.

This totally ridiculous 1970s pure hippie-luxe suede and white fox coat is vintage Jil Sander from when she was still at the helm. It is a total event to wear this coat and appeals to my desire for playing dress-up and channeling another era. Did I mention that I am obsessed with the '70s—oh, and the '40s? For me this is as much an ornament in my wardrobe as it is something to wear—living in LA doesn't give you too many opportunities to don such a statement without boiling to death.

Marc Jacobs's adorable pencil skirts are super-flattering and ladylike. I love the CHANEL-with-a-twist vibe of the tweed skirt [on the right], with its fluorescent thread details, bejeweled waistband, and tasseled zipper. The fluorescent pink is an intense pop of color with black tights and a turtleneck. "Bubble Gum Sweet, A Day at the Office, 1994–95," is a drawing by one of my favorite artists, Karen Kilimnik, who shows at 303 Gallery in New York.

It's all about nosebleed wedges this season, in this case, by Lanvin and Givenchy. Both of these shoes have a luxurious handmade quality and a toughness to them that is a perfect complement to a pretty dress. I love to be tall, and these are super high without being too prissy and ladylike. While I always get an "are you insane?" look when I say these are comfortable, they actually are—relatively—comfortable. The bronze skull sculptures are by LA-based artist Nathan Mabry. I'm loving the Gothic mix of the black skulls with the brutality of the slight S&M playfulness of the shoes.

I am a fully committed Marc Jacobs devotee and have something from every collection since he started his own label. With this dress, the elegant 1940s glamour is contrasted with the slightly wicked black lingerie gauze peekaboo inserts in the side seams and back. I have a bit of a clutch collection, and Lanvin features heavily in it. These bags often determine my outfit for the evening.

From the moment that Alber Elbaz started designing for Lanvin, I was completely seduced by his wildly romantic and feminine vision. This draped-to-perfection saffron confection is my absolute favorite blouse. It's like wearing a traffic light, and it gets you almost as much attention. It always makes me feel utterly perfectly dressed, whether it's paired with a duchesse satin black pencil skirt or with blue jeans. Embarrassingly, I literally have the Lanvin flats in every color and texture.

This crazy gorgeous Marc Jacobs fur jacket is my absolute favorite acquisition from winter. It is perfectly chic over jeans or an evening dress. The silk-and-wool tapestry Peony Cushion by Alice Temperley for the Rug Company, shown here with two more of my precious Nymphenburg Porcelain animals, are nestled in a pink velvet wingback chair by Roy McMakin.

This Marc Jacobs shoestring-strap camisole is impossibly dainty, playful, and terrifyingly don't-breath-too-hard delicate. With its crimped organza ruffles and silk satin fastenings, it's like wearing doll's clothes, or rather mermaid doll's clothes, to be precise.

Balenciaga is a new passion. I never wanted to have the handbag that everybody else had, and at the point I started carrying serious handbags, Balenciaga was the it bag. Fifteen years later, I have completely surrendered to the genius of Cristóbal Balenciaga and Nicolas Ghesquière. I am an uncategorical addict; the special-edition pieces have become a sickness. The cherry-blossom-print camisole and scarf are completely dreamy. I am always drawn to the Japanese aesthetic—in fact, pretty much just Japanese everything.

Sometimes I think I buy things because they look like art more than they will serve as functioning clothes, which might just be the case with this Lanvin opera coat. I have worn it once, but I think about it all the time. When I was 21, I bought a pair of Bruno Frisoni shoes and convinced myself I would grow into them because I loved how they looked so much. The Lanvin silvery sparkle-encrusted pumps are a "Somewhere Over the Rainbow" fantasy— wrong color, but you get the idea.

Draped inside my baby-grand piano is a very sassy and adorable black-and-white houndstooth Dolce & Gabbana strapless dress. Accompanying it is a vintage Fendi silver sequin Baguette bag and a Bottega Veneta gold-beaded clutch.

I love the old-Hollywood glamour of this velvet gown by Marc Jacobs, with its plunging back and swishy train. I feel like I just walked off the set of Gosford Park, and it always makes me feel like I should have a cigarette in my hand.

The YSL Tribute sandal was a revolution in high-heel design, with its soaring platform. They're so feminine and sexy, but you can run in them. This denim version is like wearing a high-heeled Converse. The gorgeous white-lacquer lamp is designed by Roy McMakin. The white animals are Nymphenburg Porcelain. The yellow canary is from an antique store in Shropshire as a memory of my beloved pet canary, William. I love collecting old-fashioned tchotchkes: bronzes, marble, porcelain, and glass.

Karen Kilimnik is a one of my absolute favorite artists. Her offbeat sense of humor and sense of the absurd is never more apparent than in this drawing, "Wild Lynx Relocation Project," where the wild cats are being lured to a new habitat by the scent of Penhaligon's perfume.

I am cuckoo about Bottega Veneta's super-luxe fabrics and exquisite hand-crafted bags. This intrecciato woven satin clutch is like carrying a piece of jewelry—and is about as practical—but when a bag is this adorable, it can get away with almost anything.

I go through phases when I want my surroundings to be totally clean and minimal, but right now I am in a "more is more" state of mind, where I love the chaos of lots of different colors, patterns, and textures. The two tapestry cushions, Florentine by Alice Temperley and Home Cushion by Committee for the Rug Company, are gorgeous pedestals for another of my favorite clutches by Lanvin and a pair of red braided leather Balenciaga gladiator sandals.