By People Staff
Updated October 26, 1992 12:00 PM

Welcome to our annual salute to the Best Dressed people of the year—and our dressing-down of the Worst. It’s always fun to follow (or rain on) the fashion parade, but this time we’ve done it in telling color—and at more than five times the usual length. For the first time, we’ve also had the gall to actually name the 10 most dazzling and dreadful of the year, be their styles sassy, classy or plain déclassé.

Look at these pictures and you have to wonder, as we did, why so many celebs are so, er, sartorially challenged. To be fair, a star’s public life is a constant tug between not wanting to be mobbed and a nagging fear of going unrecognized. But why be fair? Wouldn’t you think these people with limitless budgets and retainers could get themselves together? You would. We would.

But the results speak for themselves. Here, then, are the good, the bad and the truly terrible of the year, as well as the folks who, like Demi and Madonna, bared all for fashion. Here, too, are the headliners of ’92—the British royals, dressing for stress, and the presidential candidates, dressing under duress. We’ve also included a look ahead. Will it be bye-bye to boxers and backward baseball caps? So far, we see a checkered future, some low-key grunge and enough leather and faux animal prints to cloak whole clans of cavepersons. In sum, it seems that the tiger is saved for now, but the Waleses are definitely on their own.