Her olive skin and shiny brunette locks are perfectly suited to scarlet, as was evident when the Oscar-winner unveiled her new film at northern Spain's San Sebastian film festival.
Penelope looked every inch the red-hot mama in a floor length strapless gown with an unusual wrap around style.
She completed the look with side-swept hair, towering platforms and a Loewe clutch.
The stunning ensemble was Pen's third outfit of the day.
She had picked out a pretty floral-print dress which showed off her killer curves to attend a photocall for Venuto al Mondo (Twice Born).
Earlier the 38-year-old, who is mum to one-year-old Leo, stepped out in a pair of dressy black jeans and a top with a white flower motif.
In her new movie, Penelope plays an Italian woman making a pilgrimage to Sarajevo with her teenage son, whose father died in the Bosnian conflict years ago.
The part required her to speak English with an Italian accent most of the time and also speak in Italian for other scenes.