From directors Michael Powell and Emeric Pressburger, one of the most visually beautiful films ever made, it's Black Narcissus, from 1947, shot in Technicolor. The film is a psychological drama about a small group of Anglican nuns in a convent in the Himalayas, but the story is secondary to the striking beauty of the film.
Cinematography by the one and only Jack Cardiff. Art direction by Alfred Junge. You'd never guess that this film was made almost entirely at Pinewood Studios in England. Absolutely gorgeous.
After Black Narcissus, TCM is airing another Powell/Pressburger/Cardiff Technicolor msterpiece, The Red Shoes. Real eye candy, but less interesting to me than Black Narcissus because The Red Shoes is about a ballet troupe and is more stagey and less natural.