Ashlee Simpson and boyfriend Pete Wentz recently co-presented for the annual Nickelodeon Kids’ Choice Awards. The couple were present to give their fans a night to cherish and enjoy. Fun times abound whenever the Choice Awards rolls into town.

Check out these backstage pics of Ashlee with pop sensation Rihanna. Mixed in the batch are some photos of Ashlee and Pete goofing around with the photographer. A person could get jealous with Pete for dating this hot younger sister of Jessica Simpson. Way to go Pete!

Ashlee has teamed up with Wet Seal, a women’s clothing retailer boasting of moderately priced t-shirts tops and accessories. Currently recording her third album, “Bittersweet World”, Ashlee plans to launch her designer shirts in conjunction with the release of the said album, sometime in April of this year. The company’s designs cater to the younger crowd, which Ashlee’s fans certainly are. She said in an interview, “”I was inspired by so many fun, wonderful things as I was recording Bittersweet World and it’s been great to carry through those inspirations into these new shirt designs. I hope my fans love this album and rock out in these shirts!”

Ashlee’s older sister Jessica already has her own fashion range released in 2005. Boyfriend Pete Wentz also has line coming out of Nordstrom. Naturally, Ashlee didn’t want to get left out by two of the most influential people in her life right now. Nice going Ashlee! You definitely won’t regret all the money you’re going to make because of this.

And is she pregnant also? Ashlee has been photographed recently wearing what looks like an engagement ring. Ashlee and boyfriend Pete Wentz, Fall Out Boy’s bassist, are one of those inseparable celebrity couples. They are always seen together, all sweet and cuddly, in various social events. Pictures of the two have been sprouting up like mushrooms in many fan sites. They practically spend very moment together. So an engagement is possible right? The news that Ashlee may be pregnant is not so far-fetched too.

But Ashlee is quick to set the record straight on those pregnancy rumors saying, “No, I’m not pregnant.” in some interviews she granted.

She has also said that the supposed engagement ring is actually a promise ring given to her by Pete. She actually had the ring for quite a while now and it just means that Pete “…hasn’t asked my dad yet”, she explained.

But what do you make of the recent blog posted by Pete announcing the couple’s plans to make something that can’t be illegally downloaded. This announcement hinted at a baby on the way, don’t you think? The video message also showed Ashlee posing with a cushion stuffed under her shirt. Maybe the couple just wanted to have some fun, joking around for the benefit of their fans.

What do you think guys? Is the couple hiding a secret which will be revealed in nine months? Let’s just wait and see if further developments on this rumor surface.