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The president and first lady attended a taped television performance at Ford's Theatre Saturday evening, titled 'America Celebrates 4th of July', which honored South African Justice Albie Sachs and Archbishop Emeritus Desmond Tutu with the 2010 Lincoln Medal. Per the Huffington Post, "The annual event also featured Dick Van Dyke, Kelly Clarkson, George Lopez and other performances and will be aired on July 2."
For the appearance, Mrs. O turned to a silver column dress, paired with a crystal and bow Fenton Fallon necklace, available at J.Crew here.
Update #1: Mrs. O wears a Calvin Klein Collection metallic silk draped back strapless dress, designed by creative director Francisco Costa.
Update #2: Mrs. O carries an Anndra Neen metal clutch.