The 49-year-old stunned onlookers at the exclusive Costume Institute Gala in New York when he walked the red carpet wearing a see-through black lace shirt dress teamed with white boxer shorts, reported Contactmusic.
"It is just a lace dress... I just did not wanna wear a tuxedo and be boring," he said.
Jacobs, known for his eccentric style, accessorised the shirt dress with a black clutch bag and a pair of heeled buckle shoes from his latest Autumn/Winter collection.
"I think Miuccia Prada is such a celebration of the unconventional and so it felt appropriate, somehow. They are two women Schiaparelli and Prada who I have always loved the work of. I am looking forward to seeing the exhibition," he said.