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It was a wardrobe malfunction — times two!

Lady Gaga gave fans a peepshow at last night’s Council of Fashion Designers of America awards where she accepted the prestigious gong for Fashion Icon. Draped in dramatic, asymmetrical black by Thierry Mugler, she vogued on the purple carpet, leaning forward and lifting her arm to reveal her full rack — to a wildly excited crowd.

Inside Alice Tully Hall, the 25-year-old pop star also entertained fashion’s finest with hilarious anecdotes, including a texting mishap with Vogue editor Anna Wintour. Gaga said Wintour first texted her saying she’d won the award for Fashion Icon. But Gaga mistook Anna for a colleague of hers called Anna, and texted back: “Yeah, bitch, we did it.”

The response from Wintour? “How lovely.”

NSFW PHOTO: Lady Gaga's Wardrobe Malfunction.

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Teetering about in foot-high platforms, Gaga follows in the glamorous footsteps of previous icon winners such as Iman, Kate Moss and Sarah Jessica Parker — and style experts insist the fashion flasher is a worthy recipient.

“She pushes boundaries, she loves fashion,” said CFDA president Diane von Furstenberg, “and she loves dressing up.”

And, apparently, taking it all off.

MORE PHOTOS: Lady Gaga's CFDA Arrival - Check Out Those Boots!

Other big winners of the night included:

* Womenswear designer of the Year: Lazaro Hernandez & Jack McCollough for Proenza Schouler

* Menswear designer of the Year: Michael Bastian

* Accessory designer of the Year: Alexander Wang

* Swarovksi Award (for emerging talent) in womenswear: Prabal Gurung

* Swarovski Award (for emerging talent) in menswear: Robert Geller

* Swarovski Award (for emerging talent) in accessory design: Eddie Borgo

* Phoebe Philo for Celine received the International Award