Newly engaged Mariah flashes her traffic-light ring in public

Mariah Carey looked fabulous for her first red carpet appearance since her engagement to Australian billionaire James Packer, but it was her engagement ring that stopped traffic.

Yup, 35 carats will do that.

"It’s an epic ring for an epic time in her life,” says ring-maker Wilfredo Rosado.

It was Thursday night, and the occasion was the Aussie G'day USA Gala in Los Angeles, so naturally Carey, 45, and Packer, 48, had to be there.

She was clad in a figure-hugging, sparkly black gown with a plunging neckline. But it paled beside that ring, flashing on her left hand and prominently on display even while holding hands with Packer.

The ring is as colossal as everything else about Carey and casino mogul Packer, Australia's fourth-richest man. It's so big it outweighs even Elizabeth Taylor's 33-carat Krupp Diamond ring she got from Richard Burton in 1968.

Boom:

And boom:

Carey's ring was designed and constructed in just two weeks, her jeweler, Wilfredo Rosado, said in an interview with Vogue last week.

He said he sought to create "the most stunning ring for one of the most iconic divas of our generation."

Certainly looks like she's happy with it.