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Heidi Klum On Her Oscars Dress: 'I Did Actually Make it Very Modest'

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When Heidi Klum arrived at Elton’s John’s Oscars party in that eye-popping plunging gold gown we thought that maybe her, um, assets accidentally busted open a seam (or five) on the way to the bash.

Well, it turns out that the Project Runway host, 39, actually had the Julien Macdonald dress altered to be less revealing. Yes, you read that right.

“You should have seen it before!” she told PEOPLE at a launch party for her spring New Balance pieces. “I did actually make it very modest; it was all the way down to my belly button.”

Blame it on the supermodel’s killer cleavage, which she’s understandably proud of.

“To me it wasn’t even that risky,” Klum added. “Those are my boobs, you know? If they were like all the way down to my knees I would be like, ‘Okay, maybe that’s the wrong dress,’ but I felt like, Why not?”
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And while she acknowledges that her red carpet taste falls on the daring end of the style spectrum (“My publicist would probably rather I wear more conservative, safer clothes,” she quipped), she enjoys pushing the envelope.

“I like to have fun. I take chances and I do what I want,” she explained. “Maybe not everyone gets it; maybe some people say it doesn’t look good on me. [But if] I feel great in it, I wear it.”

Tell us: What do you think of Klum’s style?

–Alex Apatoff, reporting by Raha Lewis

PHOTOS: Vote on these out-there celeb looks!