Party stores like Shindigz.com sell a number of favors with a movie theme, such as mints that come in tiny film canisters or custom Hollywood Walk of Fame stars. You can go down to a thrift store and buy a bunch of inexpensive sunglasses to give your gifts a touch of glamour, or postcards featuring movie stars or movie posters on the front. Many party supply stores also make small plastic replicas of the Oscars, which make great party favors as well. They're not quite the same, since Oscar is an officially licensed image, but close enough to count.
If you have a comparatively small number of guests, consider burning a CD full of Oscar music for them. Find out what music is up for the Best Song and Best Musical Score Oscars, then purchase these tracks from iTunes or a similar outlet and burn them to a CD. You can add other songs from movies which came out that year, or classic songs and soundtrack clips from movies in the past. Not only does the CD lend a sense of movie magic to the proceedings, but your guests can listen to it on the way home and decide if the best soundtrack really did win that year.
Find some really bad movies on DVD--movies that are cheesy, silly and fun for all the wrong reasons--and hand them out to people at the party. Ideally, the movies should feature an Oscar-winning actor or someone whose work is showcased on the awards that year. (Michael Caine is a gold mine for this.) It helps to keep the awards in proper perspective without detracting from the showbiz sheen to the evening. You can buy such movies fairly cheaply on Amazon or eBay, or from video rental places like Blockbuster, especially if they're used copies or the movie in question has largely been forgotten. If you can't afford to give DVDs to everyone, just buy one DVD and give it out as a door prize to whoever picks the most winners.