Chanel’s graffiti-print backpack is the ‘It’ bag of the summer

If you want to earn an A+ in fashion, look no further than the latest It accessory.

The backpack was already making a quiet comeback for a few seasons, but no one did it better than Karl Lagerfeld for Chanel’s spring 2014 runway show: Crafted from canvas and embellished with friendship bracelet-like ropes, the graffiti-print CC signature elevates this kiddie accessory into seriously haute territory.

So does its price tag (from $3,400 to $3,800; for more details, click here.

Terrifying? Intimidating? Awesome?

Yep. But that’s what makes it so covetable.

Just ask this slew of cool girls who have been spotted casually slinging it around town:

Chlöe Grace Moretz

Fresh from her front-row seat at the Giorgio Armani Privé show in Paris this past June, the trendy teenager earns extra credit for hitting some accessory high notes as she arrives in LAX: Chanel backpack, hipster shades and a super sparkly pair of sneakers.

Oh, and her brother.

Lily Allen

The songbird swaps her black-tie-ready Chanel candy clutch for a more cazh vibe while cruising through Heathrow Airport in May.

Staying true to her bad-girl roots, Allen tricks out her backpack with Fendi’s monster charms (get yours here).

Miley Cyrus

Our favorite good-girl-gone-bad once told MTV, “You can just mix white trash and Chanel, that’s me.” Here, Cyrus rocks the CC logo on her sleeve, complete with a gold glittery dollar bill key chain.

Just in case you forgot she was money. Cha-ching.

Kristen Stewart

As the face of Chanel’s Métiers d’Art Collection Paris-Dallas 2013/2014 campaign, it’s no surprise Stewart was one of the first to be spotted carrying it.

Paired with a hoodie, skinnies and high-tops, the broody actress looks like she just ditched third period in favor of a Chanel photo shoot. Oh, wait . . .

Khloé Kardashian

No roundup is complete without a Kardashian kameo. Here, it’s all eyes on Khloé, who rolls into LAX sporting head-to-toe black and classic red lips.

Accessorizing with barely there gold hoops and a cross necklace, sister No. 3 smartly lets her coveted carry-on remind us she’s all that and a bag o’ chips.