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Every season for the past four decades, Ralph has created new collections for men, women, and now, children. How does he stay inspired, year after year? "You pray," Ralph says.

Even now, Ralph says he gets excited and anxious before every runway show. "People always say, 'Ralph, you've been doing it for all these years. Don't you feel like it doesn't faze you?' I'm scared," he says.

"Every time?" Oprah asks.

"Every time," Ralph says. "You have to create something from nothing." He couldn't even relax for a moment after his first runway show. "It was a great show," Ralph says. "People were standing up and applauding. And as I walked down the runway, I said, 'Oh my God, what am I going to do next year?'"

Ralph says he didn't become a designer because he loves fashion. For him, it's about defining a lifestyle. "The clothes that I design and everything I've done is about life and how people live and how they want to live and how they dream they'll live," he says. "That's what I do."

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