A Converse collaboration that has received a huge amount of critical acclaim is now entering it’s third iteration. For the third time, Converse is releasing a small capsule of All Star shoes, rendered in the signature zigzag fabric that Missoni has made famous. In 2010, the Missoni Converse came in a black and white version, and in a muted multi-color version. For Spring 2011, the collection is much more playful; there is a women’s version, in palette of aqua green, purple and black, and a unisex version, in shades of green, yellow, red and blue. As in the past, the Missoni fabric is space-dyed, meaning that each shoe is unique. Both versions include an embossed monochromatic Chuck Taylor All Star leather logo patch, a good-sized heel tab, and amazing construction details. The Missoni collaboration shoes will be available in limited quantities beginning in March at Missoni boutiques, Aloha Rag, Canvas and Jeffrey’s, and at other select retailers around the world. Check out images of both versions after the jump.