02/26/2012 09:11 pm ET Updated Feb 27, 2012

Jennifer Lopez Wardrobe Malfunction On Oscar Stage?

Where is the worst place to have a wardrobe malfunction? Probably on stage presenting an Oscar, and unfortunately for Jennifer Lopez, it almost happened.

It was barely there -- let's call it the nip slip that wasn't -- but Lopez almost had an embarrassing moment while presenting an Oscar on stage with Cameron Diaz. Her low-cut dress was stunning, but perhaps she should have made sure she was taped in there a little better.

While we weren't convinced anything was out of place, Twitter seemed to think otherwise.

There's even a new Twitter handle dedicated to Lopez's, um, body part.

Well, nipple or no nipple, it definitely could have been worse. Must we remind you of Super Bowl 2004?

Check out photos of stars walking the red carpet at the 2012 Academy Awards below:

Academy Awards 2012: Red Carpet Arrivals