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If it's an office party...
Go nuts with spangles and sparkles but skip showing cleavage or too much skin in general.
If it's your coolest friend's holiday cocktails...
You'll want to wear this stuff everyday, anyway.
If it's a family get-together...
Keep it low key, but festive.
If it's your first holiday with a boyfriend's family...
Take a page out of Kate Middleton's playbook and pick a safe silhouette but memorable color.