Jennifer Lopez Wardrobe Malfunction at 2012 Oscars, Nip Slip or Shadow? [VIDEO]

The Internet was abuzz Sunday night during the Oscars about a possible wardrobe malfunction from Jennifer Lopez, who presented the Oscar for costume design and makeup with Cameron Diaz, after a Twitter account entitled JLosNipple was created after the possible nip slip caught on video.

Diaz mentioned famed designer Edith Head, saying a dress should be tight enough to show you're a woman. Lopez added in, but loose enough to show you're a lady.

But there was nothing loose about this low cut white Zuhair Murad gown worn by Lopez to showcase her décolletage for the 2012 Oscars ceremony. As she went to present the Oscar, Lopez shifted slightly to a risqué angle the camera caught of her breast, which some debate was a nip slip with others believe it was just a shadow on the sheer dress.

I spy J-Lo's aureole! It's not gonna get more exciting than this tonight, tweeted Bravo's Andy Cohen.

Moments after, a Twitter handle, JLosNipple, was created which has amassed more than 800 followers before the end of the ceremony.

Lopez most memorably wore the low cut green Versace dress to the 2003 Oscars which nearly grazed her belly button, which luckily didn't result in a wardrobe malfunction. However, in June while making an appearance live on German TV, Jennifer Lopez suffered an on air wardrobe malfunction where the audience and Internet caught sight of her breast.