Separates - My advice is to wear separates rather than a suit. You'll feel a little more relaxed and not so stuffy. Plus, you'll be able to adjust to the temperature of the room by adding or removing your jacket.
Personality Piece - Always add a personality piece to your outfit. It can be a fun necklace, a funky bracelet, or whatever you want. At a networking event, you're a little freer to express yourself, but you should stick to just one personality piece. You want people to notice you, but not in a bad way. It's OK to be stylish. It's not OK to be over the top.
Comfy Shoes - Whatever you do, make sure you wear comfortable shoes. You do not want to have a grimace on your face because your shoes are pinching your feet. You'll probably be standing up for most of the event, so wedges might be a good option for you. Uncomfortable shoes will make you miserable and everyone will know it. Trust.
Bag with Handles - Think about carrying a bag with handles that you can slip on your arm. You'll be shaking hands, passing out business cards, and probably holding a glass of wine. A clutch may be super cute, but a bag with handles is much more practical for a networking event.