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In these risk-averse times, those who have the audacity to take a fearless leap ought to be applauded. How far is too far, though, is up for debate. Should a look that seems straight off the stage of “Hair” be worn walking around Manhattan? How much fringe does one really need? Who knows — but it certainly makes the somewhat winter-weary scene more exciting. Lots of pink, sequins and a pair of John Lennon-esque blue sunglasses showed up on the party circuit in the past few months, just begging the rest of the folks to take things a little more lightly. So in the spirit of “Grey Gardens” and its celebration of sartorial eccentricities, here is WWD’s compilation of looks that pushed the edge — and, in some cases, fell off.