Britain's not-always-reliable "Sun" tabloid says that BEYONCE and JAY-Z threw a party for their daughter Blue Ivy's first birthday.  A $200,000 PARTY.  (!!!)

--It reportedly included $95,000 for pink and white roses, $2,000 for the cake . . . and even $30,000 in swag for the guests.

--Yeah . . . even the ADULTS who showed up got goodie bags that included personalized fountain pens.

--Oh, and their gift to their daughter?  An $80,000 Barbie doll that's encrusted with diamonds and wears jewelry made out of real white gold.