Miley Cyrus -- She's Looking a Little Pasty (PHOTO)

Miley Cyrus donned a silver wig to match her silver pasties when she showed up Wednesday night to perform at Art Basel in Miami ... with BF Patrick Schwarzenegger in tow.

Miley performed mostly covers -- Led Zeppelin, The Beatles, Johnny Cash -- and mocked her own music, saying, "You thought (Art Basel) was a respected place where you could escape me."

One thing's for sure ... the Kennedys are having fun conversations today.