From bizarre sky-high head pieces to elegant neon gowns: A look back at the best and worst fashion moments from inside the birdcage at the Melbourne Cup

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Each year, thousands of excited punters, A-listers and fashionistas travel from all corners of the country to attend the iconic Melbourne Cup race.

And while the day is supposedly about the horse race, the celebrities inside the famed VIP birdcage also go head to head as they compete for the sartorial crown.

Now, less than 24 hours before the Flemington gates open, FEMAIL looks back at the most memorable Melbourne Cup, Derby Day and Oaks Day fashion - from the most stylish and elegant to the outrageous and down right bizarre.

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Unique choice: Gabi Grecko made quite the fashionista in 2014 in a ruffled-feather skirt, sunset-orange wig and clown-covered corset as she arrived with her now ex-husband, Geoffrey Edelsten

Making an entrance: Former mayor of Geelong Darryn Lyons and his then fiancee Elissa Friday certainly ensured all eyes were on them with their eye-popping ensembles in 2014

Standing out: Former wife of Geoffrey Edelsten, Brynne Edelsten, chose to don racy figure-hugging pink frocks in both 2011 and 2013 

Never one to hold back in the sartorial stakes, Geoffrey Edelsten's ex wife Gabi Grecko made quite the entrance in 2014 when she arrived at Flemington in a ruffled feather skirt and a glitzy bodice stamped with pictures of clowns. 

She also wore an enormous wing-like fascinator and rocked a sunset orange wig for the occasion - the model un-phased by the event's strict dress code. 

A year earlier, another former flame of Geoffrey Edelsten's, Brynne Edelsten, also raised eyebrows when she arrived in a tight pink mini dress that challenged Flemington's 'smart' dress code.  

OTT: The Real Housewives of Melbourne cast were the centre of attention when they arrived at Flemington in 2014 

Interesting choice: Jackie (left) wore a chess piece on her head, Gamble (centre) was scantily clad in a floral bodice and white skirt and Lydia (right) wore a very heavily embellished neck piece and an oversized fascinator

Former Mayor of Geelong, Darryn Lyons, and his then fiancee Elissa Friday, also raised eyebrows in 2014 when they arrived in very flamboyant get-up - Lyons in a hot pink and purple suit and Friday in a leopard print jumpsuit and Mad Hatter-esque hat.

The Real Housewives of Melbourne cast are always up for challenging the rules and in 2014, arrived at Flemington for Derby Day in jewel-studded, racy frocks - some with very unusual head pieces. 

Gamble Breaux dared to bare on the day, showing off her busty assets with just strategically placed embroidered embellishments covering her modesty, while fellow housewife Jackie Gillies did her best to prove she is the queen of the cast, by sporting a queen chess piece on her head for the occasion 

Ladies in red: Model Ashley Hart wore a very bold red Stella Jean number in 2015 while Sam Armytage opted for a Karen Gee coral lace dress and navy hat

Bold blacks and whites: Big Brother's Aisha McKinnon (left) went masculine in a black-and-white pantsuit in 2015 while Jesinta Campbell (centre) raised eyebrows in 2014 for her unusual jumpsuit and hat

Frock horror! Neighbours actress Olympia Valance was turning heads for all the wrong reasons in 2015 at the Stakes Day races

Other questionable choices over the years have included Tully Smyth, who wore a black sheer number in 2014 and Olympia Valance, who in 2015, stepped out in an oversized layered gown that wouldn't have looked out of place at a Disney princess party.

But among the host of frock horrors and eyebrow raising get-ups are the A-listers who arrive at the exclusive birdcage in elegant and stylish looks perfectly suited to the luxe enclosure.

In 2015, Model Jennifer Hawkins set a high standard in a stunning neon Tony Maticevski dress and Black Origami crown by milliner Natalie Bikicki.

Beauties: Jennifer Hawkins (left) was electric in a fluorescent yellow frock with a peplum waist in 2015 while former Miss Universe Australia Scherri Lee Biggs (right) posed for snaps in a bright pink Cappellazzo Couture off the shoulder dress 

Pastel pinks and purples: Nikki Phillips (left and right) and Nadia Bartel (centre) both stunned in elegant pink and purple numbers in 2015

Former Miss Universe Australia, Scherri Lee Biggs, also chose a vibrant look and posed for snaps in a stunning Cappellazzo Couture off the shoulder dress and black head band.

A-listers Nadia Bartel and Nikki Phillips also stunned in 2015 in simple pastel pink and purple dresses.

Australian beauties Jodi Anasta, Rachael Finch and Kate Waterhouse have also topped the sartorial stakes over the years - each of them willing to take fashion risks that more often than not, pay off.  

Bachelor bonding: The Bachelor and Bachelorette stars looked striking in their designer pieces in 2015, with Snezana Markoski (left) looking a vision in red and Sam Frost (right) wearing a colourful Peter Pilotto dress

Leading the style stakes: Australian beauties Jodi Anasta (right), Rachael Finch (centre) and Kate Waterhouse (left) were dressed to impress in 2014