Whether you’re hosting this year’s holiday party or you’re lucky enough to be an invitee, toeing the sartorial line between “basically pajamas” and “uncomfortably overdressed” can be as tricky as getting dinner on the table while it's still hot. Here, three levels of effortless and comfortable ensembles—from laid-back to fancifully festive—that will earn you the title of best dressed, no matter if you’re the hostess or a guest.

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