Sipping (okay, gulping) vodka pomegranate cocktails on the lawn, it soon became apparent that fringing was quite the thing. The model Meredith Ostrom wore a silver-fringed minidress, boutique owner Virginia Bates wore a turquoise-fringed piano shawl, and model Lisa Butcher had tucked a longfringed handbag under her armpit that looked (from a distance and after several cocktails) like an exotic new breed of toy dog.