Klum said she loves the Greek myth of Medusa, in which a goddess turns a beautiful woman into a monster with serpents for hair, the sight of which turns living things around her to stone.
"So I wanted to be really, really like a really ugly, ugly Medusa. And I feel like we nailed it - to the teeth," Klum said before pointing to fangs in her mouth.
Her husband, musician Tom Kaulitz, dressed as a man turned to stone.
Klum said she spent 10 hours getting into costume for her annual Halloween party.
She said it was all worth it because she loves the celebration.
The supermodel-turned-TV personality went viral in 2022 when she arrived at her party on the end of a fishing line, encased in a slithering worm costume.
In past years, Klum has come dressed as a 2.4-metre-tall Transformer, a werewolf from Michael Jackson's Thriller music video, a clone accompanied by several Klum-lookalikes, and Kali, the multi-armed Hindu goddess of death and destruction.
Klum has said she starts planning her costume for the next year immediately after her party wraps.
Among the other celebrities who walked the carpet at the Hard Rock Hotel New York were a green-painted Darren Criss as Shrek, Maye Musk as Cruella de Vil and Ariana Madix as Lady Gaga.
Last year, Klum and Janelle Monáe turned up to their respective parties in the same costume: ET.
Monáe was hosting her annual party on Friday, too, and came dressed as a vampire attacked by a shark.
The actress and singer-songwriter turned the entire month into a series of Halloween-themed immersive experiences across the Los Angeles area, concluding with a party at her home in Studio City.
Earlier in the week, she had dressed as the Cat in the Hat.
"Halloween gives context to what I already do every day," Monáe told the Associated Press earlier in October.
"As an artist, I'm always transforming, world-building and inviting people to play in the worlds I create."
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