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Ugly sweater rentals, powered by Rent the Runway

Rent the Runway

Having good style is priceless. Sporting an ugly sweater to the company holiday party? That could run you into the triple digits and cost you space in your closet.

Rent the Runway, the online rental site that doles out designer duds for special occasions, on Tuesday launched a capsule collection of ugly holiday sweaters, ahead of National Ugly Christmas Sweater Day on Dec. 12, that offers a solution.

The site boasts 12 ugly sweaters, ranging from one with an actual teddy bear sewn onto the stomach, and another featuring a snowman and penguin frolicking at the North Pole. But you'd better act fast. Each sweater is unique and available only in the size listed.

Read MoreLingerie to jewelry: What to buy her this year

A four-day rental costs $15, but after tacking on $5 for insurance, $10 for shipping and tax, the total cost tops $30. The site prompts shoppers to sign up for its "Pro" service, which offers free insurance, free shipping and a free birthday dress for $29.95 a year.

But men shouldn't feel left out. If you're willing to pony up some real change, online retailer Shinesty.com, which tells people wearing its clothing that they can "watch as members of the opposite sex instinctively flock like the Salmon of Capistrano" (a nod to "Dumb & Dumber"), sells a number of "Ugly Christmas Sweater Suits."

Fanatics.com also sells ugly Christmas sweaters for the sports lover's favorite team; Target has an "Ugly Christmas Sweater Box Kit," including a sweater, beads, bows and bells, for $24.99.

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Rent the Runway started as an online-only retailer, but it has since expanded into bricks and mortar. It currently operates four stores—two in Manhattan, one in Las Vegas and most recently, one in Washington, D.C.

—CNBC's Courtney Reagan contributed to this report

ugly sweater
Rent the Runway
Scenes from the North Pole Vest
Rent the Runway
Scenes from the North Pole Vest