Janelle Monáe Teases 2024 Halloween Costume That Is 2 Years in the Making: ‘An Iconic Movie Character’ (Exclusive)

Janelle Monáe tends to go all-out for Halloween — but this year, her costume will be two years in the making.

Speaking with PEOPLE in a new interview to promote her role as host for AMC's FearFest this Halloween season, Monáe, 38, spoke about why dressing up for the spooky holiday is one of her favorite things to do — and the story behind her upcoming costume this year.

"I love transforming," she says, looking back on some of her most intricate costumes from over the years. "And I think one of the reasons that I realized, I mean, Halloween and transforming into characters, it brings me joy."

In recent years, the Knives Out: Glass Onion star has made headlines with her costumes, which have included famous singers like David Bowie, science fiction characters like The Fifth Element's Diva Plavalaguna and even animals — like her head-to-toe chameleon costume in 2023.

"I can be working, and moving and traveling, and trying to problem solve, and I didn't get a chance to get the lyrics right on this song. But whenever people want to talk to me about Halloween, my cortisol levels just drop, and I'm happier," she says. "... It's something that I've done privately from being a kid all the way up until now."

"It brings me joy when other people around me give themselves permission to transform, give themselves permission to go outside of their everyday lives and transform into somebody that maybe they want it to look like, or in a movie, or want it to look like in a cartoon, or look like in a horror film," Monáe adds. "They really get creative."

For Monáe, that creative spirit that takes over for people each October is "how I want to live all the time."

"Yes, the rest of the world is finally realizing and giving themselves permission to be silly, to be gory, to be frightful, to be angelic, whatever that is, you're giving yourself permission to experiment," she adds. "And that's what I love about it. And so I give myself that permission too. And I do take my costume seriously."

As for her 2024 costume, Monáe says she had a slight hitch in her plans — but it won't stop her from going all-out this year.

"I've shared a costume idea with someone's team, actually, and tried to get a price for how much it would cost. And then I found out that person was going to be that," she reveals of her costume planning process. "And I had been planning this costume for two years."

But was she going to scrap the idea? Definitely not, she tells PEOPLE, revealing that her look will be "an iconic movie character."

"I'm going to have multiple costumes," she adds. "So, last year I couldn't be the costume that I'm going to be this year because of the strike. And I was standing in solidarity with my fellow actors and writers. And they asked us not to be any movie characters. So, the only hint I can give is it's a movie character."

She continues, "It's such a happy thing for me where I'm like, 'Oh, I'm going to get to transform into this.' I remember how I felt when I watched this character, and I can't wait to pay homage to it. And I spend so much time getting emotionally connected to what it's going to look like, and how it's going to make people feel."

"My niece, when she sees me transformed, she's smiling, she's happy, and that's all I want to do," she finishes. "That's what I think Halloween sets itself up as a playground to do that."

Monáe is set to host AMC's horror-centric programming block, "featuring over 700 hours of iconic horror film franchises, new series, specials and more," according to an official release from AMC.

The trailer for FearFest, set to run now through Oct. 31, shows Monáe expertly channeling The Twilight Zone and Alfred Hitchcock as she shows off both her horror knowledge and hosting chops.

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"It just feels like an organic fit, especially if you know me and you know my love for Halloween and horror," she told PEOPLE of her role as host.

"When I was asked to be the host and to be their HalloQueen, I was like, 'This feels so right, because every movie you guys show, I watch, and I've watched since I've been little,' " Monáe continues, adding that AMC has "done just a remarkable job of being a source of a place of joy for all of the horror enthusiasts like myself."

The lineup for FearFest will include classics such as Halloween, Child's Play, Carrie and The Shining, as well as Monáe's own curated horror picks, including An American Werewolf in London, Candyman (1992), The Fly, Killer Klowns From Outer Space, Puppet Master, Carrie, Jeepers Creepers and more.

The full schedule for AMC's FearFest, running all the way through Oct. 31, is available at amc.com.