If velvet gives you the willies, read on for some updated takes on this classic fabric.

But before you continue, please note — I’m not talking about velour tracksuits. You heard me. Two-piece, matching travel apparel is not a fall 2010 trend.

Tailored velvet:

An incredibly versatile and functional way to wear velvet comes in the form of a blazer. Your velvet blazer can be paired with satin pants for a dressed up look; alternately, pair your velvet blazer with a crisp white shirt and jeans or a skirt for a dressy-casual look. Many velvet jackets have silk lapels, adding more sharpness and refinery to their overall aesthetic. Do purchase a velvet jacket with strong shoulders for the most pleasing, striking shape. Check out Dolce and Gabbana and Rochas for more ideas to style your velvet blazer.

Velveteen sophisticate:

If a velvet blazer just doesn’t cut it, you’re in luck. Wearing a simple velvet dress is another option this fall. Pair velvet dresses or skirts with other refined fabrics, like silk, for a look that is all about traditional luxuriance. Wear classic accessories, but don’t overdo it. Too much makeup and too many jewels will look gaudy and overdone. Also, although exceptions do exist, avoid buying anything velvet that is adorned with sparkles, gems or jewels. Often times, sparkly velvet apparel looks like a stage outfit or dance costume gone wrong. For beautiful, classic velvet dresses done right, look at Nanette Lepore and Dolce & Gabbana Fall 2010.

Girly and sweet, smooth like velvet:

Opt for a lighter color palette — pick out velvet trousers or a blazer in a shade of crème or beige. Accentuate your soft, velvet pieces with ladylike accents and easy, pleasing colors, like light gray or mauve. If you pairing a top with a pair of velvet pants, pick fabrics that fall gently over the shoulders instead of sharp, defined shirts or jackets. This look is comfortable and feminine. See Julian Louis Fall 2010 for great example of velvet styled in this way.

Crushed velvet:

For another way to wear velvet this fall, look at ’90s alternative street-wear. Think crushed velvet with hard-edge accessories and footwear. For example, pairing a velvet dress with combat boots might be one hip interpretation of the current velvet trend. When you are shopping, do keep in mind that this style is not as classic or long-lasting.

Look at Jill Stuart Fall 2010 for inspiration.