Did Jennifer Lopez Have Oscars Wardrobe Malfunction?

Twitter lights up after 'American Idol' judge's eyebrow-raising presentation with Cameron Diaz on Sunday night.

Did Oscar get an eyeful of Jennifer Lopez? That's the question on the fingertips of Academy Award watchers around the Twitterverse after the "American Idol" judge presented Best Costume Design and Best Makeup alongside Cameron Diaz on Sunday night (February 26).

Clad in a plunging Zuhair Murad gown, the 42-year-old singer/actress took the stage with her "What to Expect When You're Expecting" co-star, who also raised a few eyebrows in a form-fitting Gucci gown. But it was Lopez's dress that went on to dominate the conversation online, with celebrities and regular folks alike speculating the frock revealed a little too much.

Perhaps predicting the (maybe) incident, "What Not to Wear" host Stacy London shared her anxiety over the décolletage-baring dress, tweeting, "I'm worried J LO might have a peek-a-boo nip moment!"

Many, unsurprisingly, weren't too upset about the malfunction. "J.Lo's nip slip > All Star game," joked @FernySuave.

And, not mincing words, helpful Carson Daly gave Lopez the heads-up, writing, "Dear JLo, your left nipple is out. K, bye. Xoxo carson."

Of course, a subject so, um, titillating is ripe for online parody. A mock account named @JLosNipple is already posting updates on Twitter. "DID YOU SEE ME!?" the account's inaugural tweet reads.

We may never know.

Do you think Jennifer Lopez had a wardrobe malfunction, or is it much ado about nothing? Tell us in the comments or tweet @MTVNews with the hashtag #Oscars!

The MTV Movies team has the 2012 Oscars covered! Keep it locked at MTV.com all night and beyond for updates on the night's big winners and the best red-carpet fashion. Join the live conversation by tweeting @MTVNews with the hashtag #Oscars.

Ryan Seacrest had a wild Oscars night too! Check out his spill with Sacha Baron Cohen below: