By Larry Buhl, for Yahoo! HotJobs

For an event that's supposed to be fun, the annual holiday office party can sometimes be a tightrope walk between festive and fear-inducing.

If you worry that you're being observed for your behavior, you're not being paranoid. You are being watched. But business etiquette experts agree that a degree of party-going savvy can get you through the evening with your professional reputation intact, and may even give you a career boost.

What's Naughty

To make the most of the office party, experts strongly discourage:

• Drinking to Excess: "We all know alcohol lowers your inhibitions," says Randall Hansen, founder and president of Quintessential Careers. "And if you imbibe too much you might find yourself telling off the boss or pulling a coworker under the mistletoe."
   
• Pulling Anyone Under the Mistletoe: Flirting, or worse, sneaking off for a tryst, guarantees that you'll be part of the office gossip mill at least until the summer office picnic.
   
• Fashion Experimentation: Keep the low-cut, leopard-skin dress at home. "Remember that the office party is still business, so it's not the time to bring your wild side out," according to business etiquette expert Hilka Klinkenberg. In general, if your outfit would be out of place on casual Friday, it probably wouldn't be appropriate at the party.
   
• Gifting: Unless you bring (appropriate) gifts for everyone, some coworkers are bound to feel left out.
   
• Bringing Guests: If the invitation isn't specific on who's invited -- including spouses, significant others, children and pets -- either don't bring them, or check it out with the event planner.

What's Nice

If navigating the holiday party minefield is daunting, go anyway, experts say. "It will show you're a part of the team, and if you're absent it will be noticed," Klinkenberg says.

To make the most out of the event, use it to network. For the rules of the holiday schmooze, etiquette experts suggest:

• Mix and Mingle: "You want to show you're good with people and confident in social situations, which is especially important if your job involves a lot of human interaction," according to Cynthia Lett, owner of the Lett Group. "This may be the one time when higher-ups in the company see your social skills, and a positive performance may give them enough ammo to recommend you when the promotion comes up."
   
• Keep it Light: "It's OK to talk about your team's accomplishments, but don't bore everyone by bragging about your own," says Andrea R. Nierenberg, networking expert and president of the Nierenberg Group. Likewise, don't monopolize anyone's time with a complex dissertation of corporate strategy. Nierenberg suggests having a list of "small talk" topics in mind, or going to a company's Web site press page to find lighter, business-relevant conversation starters.
   
• Have an Exit Strategy: Knowing when to politely excuse yourself from a conversation and when to leave the party are two critical party-going skills. "You should instinctively know when it's right to move on to the next person, but when in doubt spend no more than seven minutes talking to someone," Nierenberg says. As for the amount of face time to spend, you don't have to stay the whole time, but a quick exit will be noticed. Conversely, don't stay until the bitter end; it may give the impression you're more party animal than professional.
   
• Be Courteous: It's always a good idea to thank your party planner, and, especially if it's at a private residence, the host.