Ye and a gaggle of models walked the runway in getups slathered in mud. Yeah, it's a look and, we're guessing, an acquired taste.

Kanye's ex, Kim Kardashian, did not join, but all four of their kids were there. Khloe Kardashian and Kylie Jenner were also in attendance ... plus other stars including Offset, Naomi Campbell and Salma Hayek.

West opened the show ... aptly titled, Balenciaga's Apocalyptic, Mud-Filled SS23.

The creative director for Balenciaga, Demna, said the mud is "a metaphor for digging for truth and being down to earth."

Kanye has never walked the runway before, and actually, he didn't this time ... he stomped down it, wearing leather pans, a security jacket, a baseball cap and a hood.

Demna went on to say, "Let us let everyone be anyone and make love not war." The timing is interesting, given Russia's invasion of Ukraine.

BTW ... Bella Hadid also hit the runway. Her face was made to look bruised and beaten as she walked with a baby carrier strapped to her body ... again, covered in mud.