Hollywood golden girl Reese Witherspoon was a vision in Gucci for the L.A premiere of "Penelope," the upcoming film she'll be receiving more than screen credit for.

"I’m a big fancy producer!" the starlet giggled.

That's right! Reese is also producing the modern-day fairytale, but there’s one place we won’t be seeing this Oscar-winner: she’ll be watching this weekends’ Academy Awards from home in her jammies.