Australia's Miss Universe Finalist Monika Radulovic Misses Out On Title

Australia’s Monika Radulovic has missed out on taking home the Miss Universe 2015 title.

The 24-year-old finalist - who was dubbed Australia's best chance to win the prestigious pageant since Jennifer Hawkins in 2004 - was bumped out of the competition after failing to make the top three.

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After an impressive start the 24-year old brunette went straight through to the top 10 appearing alongside USA, Colombia, Japan, Thailand, Dominican Republic, Curaco, France, Philippines and Venezuela at the Miss Universe final in Las Vegas today.

The Bosnian-Australian beauty then proceeded to the top 5, winning the crowd over with her Dame Edna-inspired national costume which sparked praise across social media.

Radulovic eventually lost out to Miss Philippines, Miss Colombia and Miss USA who all went through to the top three.

"Our country’s amazing. I want to do them proud," Radulovic declared backstage.

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Radulovic took to the stage at the preliminary show in Las Vegas over the weekend where she paraded her costumes ahead of the final pageant, wowing the audience with her confidence - and had many declaring she already had it in the bag.

“The prelim (sic) show was intense, nerve wracking, and completely exhilarating!” Radulovic wrote on Instagram. “It gave me a taste of what to expect on Sunday’s finale and I cannot wait ... I am SO grateful for this whole experience — for the early mornings, late nights, sore feet and long rehearsals; for they are all reminders that I am living the dream.”

Kicking things off in her iconic Dame Edna outfit, Radulovic followed up with a shimmering evening gown and then a stunning purple bikini.

But despite her good looks, the down-to-earth star says she knew from early on to value education over beauty.

“I wasn’t raised to value beauty but to value education,” the Bosnian-Australian model says. “Growing up, my parents really instilled in us how important it was to go to school and do the best that we could.”

To prove the point, Radulovic recently posted a makeup-free selfie in attempt to demonstrate how much work goes in to looking glamorous on stage.

“I wanted to post a no-makeup selfie to demonstrate that Miss Universe does not need makeup to be #confidentlybeautiful !!! Remember this: There is nothing more beautiful about a woman than the belief that she is beautiful,” she said on Instagram.

And although she’s regularly compared to Jennifer Hawkins due to her popularity, Radulovic is adamant that she’ll stay true to herself during the competition.

“I really admire all of the previous winners,” she said. “But I’m not aspiring to be the next Jennifer Hawkins. I’m planning on being the best Monika Radulovic that I can possibly be. I see myself as more of a messenger that gets to show the world that Australia is the best and luckiest nation in the world.”

The world’s most watched beauty pageant ended in spectacular controversy after the TV host Steve Harvey incorrectly named Miss Colombia as the winner. Harvey was forced to quickly correct the mistake, announcing Miss Philippines as the official 2015 Miss Universe.