The Harriet star arrived on the red carpet at the Shrine Auditorium and Expo Hall in Los Angeles on Sunday. Erivo turned heads in a custom Schiaparelli Couture hot pink gown. The look included a pop of red with a color-blocked top, plenty of bling and a show-stopping train!
Erivo stopped to chat with ET's Nischelle Turner on the red carpet and she gushed about how much she loves fashion.
"We all work together to create something because we know it's not just fun for me, it's fun for everyone else," she said of collaborating with her glam team to create the night's look. "I really love it because it's another form of expression so I really do like to dive into it because why not?!"
As for her bling, she said her diamond necklace is "about a million" dollars. "They drip down my back," she showed off with a twirl.
Erivo is nominated for a SAG Award in the Outstanding Performance by a Female Actor in a Leading Role category for her portrayal of abolitionist Harriet Tubman. Erivo’s fellow contenders tonight are Scarlett Johansson (Marriage Story), Lupita Nyong’o (Us), Charlize Theron (Bombshell) and Renée Zellweger (Judy).
Erivo also opened up to ET about the "crazy" morning she found out she was nominated for two Academy Awards, one for Best Actress in Harriet and a second for the film in the Best Original Song category.
"I was on a plane to Japan, didn't think I was going to have any Wi-Fi, I fell asleep, [and] I woke up at about 6am so everything had been announced already pretty much," she shared. "I realized we have this Wi-Fi passcode so I key that in my phone and I think, 'Okay, let's see what happens.' And for a split second there it was nothing. Nothing happened at all. So I'm like, 'Okay, life is too short. It's fine. I did what I came to do and I'm happy.' But in that split second, my phone goes crazy and I've got messages coming in from everybody."
"And I realized, 'Oh my god, it think we've done it!'"
The actress said she didn't realize there were two nominations until much later. "I freaked out," she admitted. "I cried. I was like emotional, very emotional."
And when it comes to possibly being the youngest EGOT winner ever, the 33-year-old star said it hasn't sunk in yet.
"I don't think it has because I'm sort of like if it happens, it happens. If it doesn't, it doesn't," she said. "It just feels like a dream that is somewhere in the ether. So if it happened, great."
We last saw Erivo at the Critics’ Choice Awards, where she ruled the red carpet in an intricate marble mosaic print Fendi Haute Couture gown.
The actress and singer spoke with ET at the Critics' Choice Awards on possibly achieving EGOT status. If she wins an Oscar this year, she would be the youngest to earn an EGOT (Emmy, GRAMMY, Oscar, Tony). Last week, Erivo was nominated for two Academy Awards – one for Best Actress and one for Best Original Song for “Stand Up,” which she co-wrote and sang for the Harriet soundtrack.
“I don’t even know if I have the words, ” Erivo told ET ahead of the nomination announcement. “It would mean the world. It really would.”
“It’s insane and weird and crazy, and also to be even thought of in that way,” she added of potentially becoming an EGOT.
Erivo has already taken home an Emmy, GRAMMY and Tony for her performance in the 2016 Broadway revival of The Color Purple.
See all the stars' red carpet arrivals at the SAG Awards by clicking through the gallery, ahead.