Stars such as Heidi Klum, Taylor Lautner, Blake Lively, and Claire Danes joined designers such as Jason Wu, Michael Kors, and Diane von Furstenberg to celebrate American fashion, and the stars and designers raved about the first lady of fashion Michelle Obama. Plus, Heidi Klum shares baby news with ET!

"We know what we're having, we're having a little girl," Heidi says. "We're super excited, especially my mom."

The celebs and famed designers spoke to ET at the 2009 CFDA Fashion Awards in New York City and explained what makes first lady Michelle Obama a style icon.

"I love the way she dresses," Heidi says. "It's the first time I feel fashion and politics are kind of merging together. It's never been like that before that you ever looked at anyone in politics and said wow 'That person looks really stylish or really cool.' Woman want to be like that person. I think it's the firs time people actually admire not only her brains but also her beauty and her style."

"We love working with Mrs. Obama," Michael Kors tells ET. "She's really the embodiment of a woman actually like Heidi also -- woman who are busy, juggling a million balls in the air, and enjoy fashion. I think she proves you can be super smart, super successful and still look great. Looking great does not make you any less of a brainiac. She's the best of both."

Watch the video to hear 'The Hangover' star Bradley Cooper explain how it feels to have the number one movie, and more from the celebs as they celebrate American Fashion.