These leather Deep V Ankle Booties, available for $118 at FreePeople.com, are actually inspired by a pair of split-front ankle booties by Costume National. You can click here to see Cupcakes & Cashmere rocking the originals.
For a very affordable version of this adventurous shoe style, GoJane.com has you covered. Pick up their Chunky Heel Pointed Toe Bootie in either black, brown or taupe for just $22.70.
UPDATE 9/21/09: Just found another look for less, this one's called the Agnes Shootie by Miss Me and it's available in either black, gray or brown for $23.95 at endless.com. So many choices!