Blake Lively Has Show-Stopping Reversible Gown Moment for Met Gala Date Night with Ryan Reynolds

The couple dressed in their white-tie best to serve as co-chairs at the 2022 Met Gala, with Lively channeling New York City, itself

The 2022 Met Gala marks the return of Blake Lively and Ryan Reynolds!

One of fashion's most stylish couples stepped onto the Met Gala red carpet — and into their roles as co-chairs — embodying the "Gilded Glamour" theme in chic ensembles.

For her 10th Met Gala appearance, Lively left jaws on the famed Metropolitan Museum of Art steps thanks to her show-stopping Atelier Versace gown, which featured a reversible train.

After first arriving with Reynolds, who wore his white-tie best in a velvet tuxedo and white bow tie, Lively had a quick fashion performance halfway up the Met steps when she flipped the train, revealing an aqua side that cascaded down behind her.

For more on the 2022 Met Gala, listen below to our daily podcast PEOPLE Every Day.

Lively's ball gown moment featured matching gloves. She accessorized the look with statement earrings and a tiara — fitting as she is bound to be crowned the queen of fashion prom.

The 2022 Met Gala Celebrating “In America: An Anthology of Fashion” – Arrivals

Lively honored the "Gilded Glamour" dress code — channeling the time period between 1870 to 1890 and asking attendees to "embody the grandeur Gilded Age New York" per Vogue — by wearing a detailed gown that honored New York City. In fact, she told LaLa Anthony during the Vogue livestream that the color choices were to represent the patina aging that copper undergoes over time.

"I thought instead of looking to fashion to influence the dress, I looked to New York City architecture and the classic buildings," she also told reporters on the red carpet, adding that she worked closely with jeweler Lorraine Schwartz to help tell her Met style story.

The 2022 Met Gala Celebrating "In America: An Anthology of Fashion" - Arrivals
Theo Wargo/WireImage

"The draping [represents] the Statue of Liberty, plus the crown which has seven tiers, the Statue Liberty has seven rays representing the sun's rays and then also the 7 seas and continents which represents welcomeness, inclusivity, and freedom," she continued. "I sound like a Wikipedia page. — she has 25 windows so Lorraine [Schwartz] put 25 stones at the bottom, so they're all New York City references."

The 2022 Met Gala Celebrating “In America: An Anthology of Fashion” – Arrivals

Lively kicked off the fashion festivities on Sunday night, attending Anna Wintour's exclusive pre-Met Gala dinner in New York City in a look that showed off her sense of play when it comes to her wardrobe. Lively wore a hybrid dress featuring a sleeveless pinstripe suit covered by a contrasting long-sleeved silver sequin gown. She accessorized with a midi-length sleeveless navy coat featuring white floral detailing, white stiletto boots, an effortless makeup look and her waves loosely tousled in her go-to California-girl way.

Blake Lively

For her last Met Gala appearance in 2018, Lively embodied the "Heavenly Bodies: Fashion and the Catholic Imagination" theme in a custom-made halo by Schwartz and a custom Versace gown featuring a dramatic train designed for the Met steps.

Blake Lively
Taylor Hill/Getty

In an interview with Vogue ahead of the event, Lively called the Met Gala look her "favorite dress ever."

The last time the hot Hollywood couple, parents to three daughters James, Inez and Betty, attended the Metropolitan Museum of Art's Costume Institute Gala together, was in 2017, where they had a sweet matchy-matchy outfit moment.

Be sure to check out all of PEOPLE's Met Gala coverage to get the latest news on fashion's biggest night.

Blake Lively
Neilson Barnard/Getty

Lively wore a striking gold Atelier Versace dress with blue feather detailing, which Reynolds matched his bow-tie too. The gown was made of delicate gold chains with multi-color feather accents cascading down the train in "ocean blue" hues. She also piled on the bling, teaming the design with more than $3.5 million in Schwartz jewels, including 82-carat Burma sapphire earrings, a Schwartz 10-carat triangle diamond ring, a 28-carat nude diamond pear shape ring and a 50-carat triple sapphire ring.

Blake Lively

At the 2014 gala, Reynolds couldn't take his eyes off Lively in a low-cut, form-fitting Gucci Première blush gown embroidered with rose gold paillettes and featuring a long train. The star channeled Old Hollywood glamour for the "Charles James, Beyond Fashion" theme.

"I love a train but then when I get on these stairs, I'm like, 'Why am I wearing a train?' " she told PEOPLE at the event.

Reynolds looked similarly sleek in a custom midnight blue velvet tuxedo and classic bow tie, also from Gucci.

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