On Michelle Obama:
Mizrahi: "She's so smart and inspiring to me. Especially since she doesn't wear a boucle suit and spectator shoes. It's so refreshing."
Givhan: "We have seen First Cleavage. And we have seen First Thighs."

On Ashley's age:

Mizrahi: I can't believe you're only 23. That's horrifying to me."

On why some love to hate fashion:

Givhan: "It's purely cultural. People don't put fashion in the same category as visual arts, as paintings or sculptures. People can be condescending because fashion is considered a women's industry. Is spending $2,500 on football season tickets a waste and shallow and ridiculous? No, but spending $2,500 on a dress is frivolous."

Givhan: "I came up from Washington and only brought a small bag so I wanted to wear a dress. And I didn't want to wear black and fade into a big lump on stage." (outfit: tan and black dress, opaque tights, black platforms)

Olsen: "I wanted to be comfortable." (outfit: layered white dress, black jacket, towering maroon stilettos)

Mizrahi: "This is the only thing that fits. I am an avid cook and there are recipes I'm creating for QVC, like for cheesecakes. Every weekend I bake." (outfit: black T-shirt, scarf and pants, felt clogs)

On trends they love:

Mizrahi: "Low-heeled shoes."

Olsen: "I am loving my Tom's shoes."

Givhan: "I like being tall so it's going to be a sad day when platforms go away."

On trends they hate:

Givhan: "The Eighties. Bu-bye!"

Mizrahi: "Really? But I think it's time for structure and time for bigger shoulders."

Givhan: "That's fine, but I have a problem with harem pants."

Olsen: "I'll pass on this question."

On the future of fashion. It will be...

Givhan: "More democratic."

Olsen: "More exciting and more fun."

Mizrahi: "Less obvious. It will be about tiny little crazy trends that no one understands."

Photos: Joyce Culver for the 92nd Street Y