Caresse Crosby died of complications from pneumonia in Rome, Italy, at the age of 77. Her death marked the end of a vibrant and influential life, during which she made significant contributions to the arts, literature, and women's fashion.

Billy Peabody, Caresse Crosby's son, died in his sleep of carbon monoxide poisoning in Paris. This event marked a tragic loss in Caresse's life, as she had already experienced the deaths of her first two husbands.