The fundraiser is back in its usual early May slot after the coronavirus pandemic forced the cancellation of the 2020 event and delayed last year’s edition to the autumn.

Some 400 famous names from the worlds of music, film, fashion, sports and more will strut their stuff at the over-the-top costume parade on the Metropolitan Museum of Art’s carpeted steps.

The invite-only guest list is a closely guarded secret but frequent attendees have included Beyoncé, Justin Bieber and Elon Musk.

Pop sensation Rihanna is a regular but is due to give birth soon so it remains to be seen whether the “Umbrella” singer will skip the event or give fans a glimpse of her baby bump.

Some of the more eye-catching outfits worn over the years have included Beyoncé’s “naked dress” and Kim Kardashian’s face-covering black bodysuit.

In 2019, the last edition before the pandemic, Lady Gaga did a striptease of four different outfits, starting in a billowing fuchsia dress and ending in black lingerie.

Also grabbing headlines that year was singer and actor Billy Porter who dressed as a sun god. With outstretched golden wings, he was carried in by six shirtless men.

At last year’s event, held in September, left-wing politician Alexandria Ocasio-Cortez caused a stir by wearing a dress emblazoned with the slogan “Tax the Rich.”

That struck a nerve at the celebration of fashion where tickets cost US$35,000 and tables go for up to US$300,000.

The gala – overseen by the high-priestess of fashion, Vogue editor-in-chief Anna Wintour – raises millions of dollars for the Metropolitan Museum of Art’s Costume Institute.

Last year, the event brought home more than US$16.4 million for the institute.

The dress code comes from the annual exhibit that the party coincides with. This year’s is “In America: An Anthology of Fashion,” a retrospective from the late 19th century to the present.

Monday’s Met Gala will be co-hosted by actor couple Blake Lively and Ryan Reynolds, Oscar-winning actress Regina King and Lin-Manuel Miranda, creator of Broadway hit “Hamilton.”

This year’s honorary presidents are Instagram boss Adam Mosseri and designer Tom Ford, who is expected to dress many of the attendees.

The gala was first held in 1948 and was for a long time reserved for New York’s high society. Wintour took over the running in 1995, transforming the party into a catwalk for the rich and famous.