Peplum Princess

The peplum, which originated in the 19th century, is a short overskirt that is now usually attached to a fitted jacket.

Early examples of the peplum can be found in Godey’s Lady’s Book, a popular 1800s magazine that featured poems and discussion about fashion. The early peplum was generally not affixed to the coat, but was merely an extra overskirt or flounce sewn onto, and dropping from, the waist. The modern peplum became popular as a design in women’s suiting in the 1940s: jackets were often fitted at the waist, but the fabric extended beyond the waist in an overskirt. Instant hourglass, darlings!
This article is definitely worth a read, and the pictures that accompany it are excellent!
Credits: At top left of post: Prada black lace dress, courtesy nytimes.com. Other photos via style.com unless otherwise noted. At top right: Godey's Lady Book, c. 1860. Near right: An illustration from an 1874 issue of Harpers Bazaar.
On the runways, peplums and nods to the trend were in abundance.

At left: Christian Dior Couture

Moschino
Ralph Lauren - the peplum here is barely perceptible, demonstrating a very tame take on the skirted jacket.
Douglas Hannant Resort 2009
Roland Mouret pre-fall 2008
Bottega Veneta Bottega Veneta
J. Mendel... the pocket/peplum!
Yohji Yamamoto - CC adores the raw edge of this one!

Roland Mouret Couture, via fashionweekdaily
Jonathan Saunders Spring 2009 - how incredible was this collection?

CC especially loves the perforated peplum in the second photo!
Graeme Black Spring 2009
At right: a skirted Balenciaga dress in W

Pure peplum perfection...

More Sienna inspiration: Ms. Miller is wearing a Vidler + Nixon coat (pictured in black and white photo at left).

Jovonna full skirted belted Mac mini-trench; this look and next for purchase at asos.com.
Tofu ruffle frill detail jacket
Rebeca Taylor leopard peplum jacket at revolveclothing.com
Burberry Prorsum Techno fabric jacket; this and next 2 looks at net-a-porter.com
Just a hint of flounce will do: RM by Roland Mouret Kleber metallic flecked mohair dress
Luella bandana print dress
Whitley Kros Bridge Dress at revolveclothing.com – CC loves the digitized pattern, the bold color combination and the built-in peplum on this strapless stunner!
3.1 Phillip Lim peplum blouse, at lagarconne.com
Miu Miu chunky wool swing cardigan, at net-a-porter.com.
CC also loves the look of a full mini (like the Etro look pictured here) over opaque tights or skinny jeans! Sort of legitimizes a too-short skirt, right?