Obviously, the [article id="1663611"]Cannes Film Festival[/article] is meant to honor movies, but it's also become known as one of the biggest fashion events of the year. So when the 64th annual festival kicked off on Wednesday (May 11), all eyes were not only on the big screens but also on what Hollywood's leading ladies were wearing.

[article id="1663656"]Salma Hayek wowed[/article] at a photo-call event for her upcoming Dreamworks animated picture, "Puss in Boots." With co-star Antonio Banderas at her side, the actress worked the red carpet wearing a burnt-orange, leather Gucci dress paired with a voluminous flower shrug. The strapless dress, which she wore with a slicked-back ponytail, was from the label's autumn/winter 2011 collection.

"I needed a skirt that wasn't going to blow up because I didn't know the situation, I didn't want people looking up," Hayek told MTV News of her fashion choice. "I wanted to do it fun, wear something fun."

Later on that morning, Woody Allen's film "Midnight in Paris" opened the festival with a star-studded event. Rachel McAdams, who stars in the film, dazzled on the red carpet with her blonder-than-usual hair color and a fitted white Maxime Simoens spring couture dress that was accented with flowers on the shoulders and pockets.

Also choosing to wear a short white dress was Cannes jury member Uma Thurman. She took the red carpet for the jury photo call, along with fellow jury members Jude Law and Robert DeNiro, at the Palais des Festivals. Thurman's first look of the festival was a fitted embroidered dress from Dolce & Gabbana's spring 2011 collection.

Blake Lively and Rachel Bilson attended the Chanel Cruise 2012 fashion show on Tuesday night. Both actresses appropriately wore Chanel, with Lively, the new face of Chanel Mademoiselle bags, wearing a sequined blazer with a black mini-skirt and Bilson opting for a white pearl top accompanied by leather shorts and a blazer.

All these ladies might have some fashion competition later on Wednesday, when [article id="1663620"]Lady Gaga makes her way to Cannes[/article] to perform on the French show "Le Gran Journal."

Which is your favorite look from day one at the Cannes Film Festival? Let us know in the comments below.