If the red carpet and velvet ropes aren't enough to indicate where the party is, place movie clapboard signs along the road. Outside, along the red carpet, energize the space with twinkling lights. They'll make it look like paparazzi are snapping away. You can also line the walkway with star-shaped helium balloons. And if space allows, install full-length mirrors along the walkway and inside, so the lights bounce everywhere and the decked-out guests can get a glimpse of how glamorous they look.
Inside the red carpet event venue, hang colored streamers (remember: Oscar is gold) as well as metallic ribbons and even film strip streamers. You can place cardboard cutouts of famous stars around the area, too, which make for fun photo opps.
If your dinner is a sit-down affair, sprinkle the tables with metallic star confetti, and use film canisters, film strips, fake Oscar statues and gold or silver Mardi Gras beads draped over giant champagne glasses for a touch of sparkle. Lastly, decorate the walls with movie posters.