Peony Lim, before A Show, NYC, February 2012.
Another alternative to a party dress for events during the festive season is a pair of sequined pants... either slouchy like Peony's or more fitted jeans or leggings. Dress down with flats and a sweater/t-shirt for day and change into heels for evening.
Recreate Peony's look (kind of):
3.1 Phillip Lim sequined silk tapered track pants, Free People sequin party pants, Alice + Olivia sequined low-rise skinny jeans, Funktional Weiland pants, Blank Denim sequined skinny pants, Lanvin sequin print pants, Hunt No More So Long sequined pants, Style Stalker Gold Finger sequin pants, IRO distressed sequin pants or ASOS pants with sequin embellishment