It’s been nearly 18 months since Michelle Obama, with a swish of that embroidered white Jason Wu train, went from fashion democratizer on the campaign (H&M at Iowa road stops; White House|Black Market on “The View”) to designer-clad style icon. Though her taste still runs the high-low gamut — see her single-handed bump to J. Crew’s cardigan sales last spring — the First Lady has opted for a leaner, decidedly body-con silhouette, from jersey dresses to her ubiquitous cinched waist. And though her wardrobe seems more Lanvin than Liz Claiborne — and she’s worn both — Obama has been careful to wear many designers who are in their first few years of business. In her crisscrossing from the White House to soup kitchens, the Rose Garden to 10 Downing, Senate Chambers to the Met, Obama has shown a flair for chic, inventive styling and sleek pieces. As to be expected of someone who takes sartorial risks, she’s also made a few mistakes. Herewith, her hits and misses.