The first color photo in Vogue:
It was the July 1, 1932 cover. I thought it was interesting that the photo was done in such a way to be very similar to the style of the drawings and paintings that usually adorned the covers.
(You'll also note that the magazine used to cost 35 cents.)
From In Vogue: An Illustrated History of the World's Most Famous Fashion Magazine by
Norberto Angeletti and Alberto Oliva. I really enjoyed this book. Creativity is just bursting from its pages. It made me want to design over-the-top clothing and then have a photo shoot.