I would have to say the naked streaker when David Niven was on stage in 1974 would have to be my favorite! A close second would be Jack Palance doing pushups in his tuxedo....oh the memories...

LOS ANGELES, (AP) -- The Academy Awards are, for the most part, an elegant and tightly controlled affair. But wacky things can and do happen sometimes -- and those are the moments viewers remember the most.

(via 10 Most Bizarre Oscar Moments | 2011 Academy Awards: Nominees, Video | MSN Movies.)