This is for my more creative friends although a great deal of ability isn't required. I did something similar for a PJ Party and covered an old paid of mules with bits of purple boas. I just used a glue gun and stuck pieces onto my old shoes.  If I still have them I'll post a photo later.

But here's something far more creative and elegant:

Go to your local Michael's or craft store and look for Swarovsky or other crystals and pearls and for some "Gem-Tac"

Use a pair of tweezers to set the stones using the flatter, larger stones first. Just a dab of Gem-Tac will do it and you will have a pair of shoes similar to ones being sold for over $400.00 such as the ones I saw in a magazine recently.

Have fun!