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Your morning fashion and beauty report: Cold weather dressing, Natalie Portman’s engagement ring and Lady Gaga’s latest ‘nose’ make news

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Wow, am I glad to be in California right now! Just took a quick look at Google Trends and as I write, it seems that 16 of the top 20 searches have something to do with how to commute through the snow in the Northeast, which was pounded by a major storm overnight. If you’re stuck in those conditions -- or soon to travel to a colder clime -- All the Rage can at least help with what to wear. Our Jenn Harris explains some options for creating one of the cutest cold-weather looks seen at Sundance in her Frugal Fashion column. [LAT]

Other looks at Sundance involved animal print scarves, like the one Elizabeth Banks is wearing here, puffer coats and adorable kooky hats. [WWD]

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But for really bundled-up-to-stay-warm style, check out what guys were wearing last week when they hit the slopes at Aspen’s Gay Ski Week. [WWD]

The stunning engagement ring on Natalie Portman’s finger is more than just beautiful. It’s also eco-friendly and socially conscious. Designed by her choreographer fiance Benjamin Millepied and jewelry designer Jamie Wolf, the stone is an antique round diamond; the pave diamonds are certified as conflict-free, (meaning no one was hurt or treated unfairly in the mining) and the platinum is recycled metal. [InStyle]

Emma Watson has unveiled her third collection -- it’s supposed to be her last -- for ethical fashion label People Tree. The British actress made famous by the ‘Harry Potter’ series started the collection after she began college in the U.S. [Telegraph]

Meanwhile a somewhat more established designer is the subject of a just-announced retrospective, ‘The Fashion World of Jean Paul Gaultier: From the Sidewalk to the Catwalk.’ The exhibit is scheduled to open at the Montreal Museum of Fine Arts (MMFA) on June 17 and will be on display there through Oct. 2. The retrospective marks the 35th anniversary of Gaultier’s label. [Vogue]

Does this put the ‘gag’ in Gaga? Sources say Lady Gaga is developing a new fragrance that will smell like bodily fluids. Ewww! [Fashionista]

Italian fashion house Prada plans to go ahead with an IPO on the Hong Kong Stock Exchange. [WWD] (Subscription required.)

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--Susan Denley

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