From longtime commenter and sometimes contributor, Marc Sobel:
This Oscar shot just seemed like such a great FU from Helen Bonham Carter. It is within a slide show of serious people in serious gowns and has the caption “Helena Bonham Carter in a dress by costume designer Colleen Atwood.” I immediately thought of the Order of the Garter.
Her clothes are not by a fashion designer but a costume designer. That is Oscar women’s wear as costume rather anything worth anyone’s notice. Same as Lady GaGa if I understand her. It’s a sendup, which I perhaps uncharitably referred to as a fuckoff. I hadn’t seen the red carpet interview but I looked up the video and she obviously doesn’t take the Oscar hype and the Oscar dress hype very seriously. It’s obvious to me Carter also doesn’t think much of the interviewer.
The Union Jack of course could be thought of as a humorous pitch for “The King’s Speech” but it also ties in with the Order of the Garter. Finally, Carter is a well known iconoclastic figure and a British aristocrat. A bit of a joke on the industry, also, someone said that the part of Bellatrix Lestrange or the Red Queen doesn’t call for her to do any acting.