Bright red and bold block colours are popular fashion choices among celebrities and racegoers as punters brave wintry conditions trackside at the Melbourne Cup.

Champion former jockey Michelle Payne led the pack with a short bright red number as she arrived at Flemington Racecourse with brother Stevie, who acted as strapper when Prince Of Penzance roared to victory a decade ago.

"It's a really special feeling and special moment, to have Stevie here again, it's just unbelievable," Ms Payne told reporters at Flemington.

She was buoyed three women were riding in the Cup and wished she was out there with them but declined to give her tip, saying she could pick 15 and still not name the winner.

Punters in high heels carefully navigated soggy grass at the track, as helicopters buzzed overhea

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