Michelle Obama sure loves herself some cheap chic fashions!

The First Lady wore a stunning polka-dot print dress, by Swedish retailer H&M, on the "Today" show Wednesday (above, left). Cost? $34.95!

And a rep for H&M reveals that Obama added "her own personal twist by having her stylist add in custom sleeves. We always loved Michelle's eye for style."

But it's not the first time the First Lady has donned H&M: She wore an H&M dress (above, right) while on the campaign trail in Detroit.

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