Taylor Swift, Emma Watson: Who's Miss Ethereal at the Costume Gala?

taylor-emma-crop2.jpgWho looks more like a fairy tale princess at the The Costume Institute's annual gala -- considered the Oscars of the Fashion World -- at the New York Metropolitan Musuem of Art on Monday evening (May 3)?

Singer/songwriter Taylor Swift in a drop-shouldered white Ralph Lauren frock or "Harry Potter" star Emma Watson, clad in a one-shouldered, white Burberry gown?