Judith Leiber Ganesh Collectors Clutch, $5,595 at Bergdorf Goodman
No, your eyes do not deceive you. This crystal-studded image of Ganesh, the Hindu deity popular in India, is a BAG. Actually, it is a clutch, which means that you must hold it in your hand while the other partygoers strain their necks trying to determine a) what monstrosity you have in your hand, and then b) why you have an elephant in your hand, or better yet, why you have an Indian deity in your hand. After justifying to them that it is, in fact, a "Leiber," you may want to explain that, ironically, Ganesh is the REMOVER of obstacles, and that the exorbitant price tag somehow diminishes the ridiculous appearance of the obstacle that you hold in your hand. But if you stare at it long enough and allow the spirit of Ganesh to fuse with yours, hopefully you'll realize it looks better as a table sculpture than as a bag.