When I first heard that vests were coming back in style, I had frightening visions of the baggy vests that (literally) everyone and her mother wore back in the early 1990s. But don't be scared: The hot vests for Fall 2006 aren't anything like those. This season's shrunken and cropped styles look smart and polished, particularly when layered over baby-doll dresses and billowy blouses. Here's a look at some of my favorite tailored vests at designer and non-designer prices.

3.1 Phillip Lim Wool Tweed Waistcoat, $305, available here.

Rebecca Taylor Vest in Smokey Quartz, $151, available here.

Laundry by Shelli Segal Plaid Vest, $195, available here.

Nanette Lepore Estate Foulard Faille Secret Garden Vest, $170, available here.

To see the non-designer versions,

T Tahari Stretch-Velvet Vest, $98, available here.

To the Max Black Vest With Welted Pockets, $68, available here.

Ann Taylor Loft Fashion Tattersall Vest, $59, available here.

Apt. 9 Plaid Corset Vest, $19.99, available here.