I'm Breathless is an album by American singer and songwriter Madonna, released on May 22, 1990, by Sire Records to accompany the film Dick Tracy. The album contains three songs written by Stephen Sondheim, which were used in the film, in addition to several songs co-written by Madonna that were inspired by but not included in the film. Madonna starred as Breathless Mahoney alongside her then-boyfriend Warren Beatty who played the title role, Dick Tracy. After filming was complete, Madonna began work on the album, with Sondheim, producer Patrick Leonard and engineer Bill Bottrell. She also worked with producer Shep Pettibone on the album's first single, "Vogue". The album was recorded in three weeks, at Johnny Yuma Recording and Ocean Way Studios, in Los Angeles, California.

"Hanky Panky" is a song by American singer Madonna from her soundtrack album I'm Breathless. It was released on June 12, 1990, by Sire Records as the album's second and final single. Written and produced by Madonna and Patrick Leonard, the song was developed from a line in the parent film, Dick Tracy, talking about a woman who enjoys being spanked by her partner. Performed in a playful, “tongue-in-cheek” style, "Hanky Panky" is a jazz and swing song, keeping with the film's general theme of the 1920s and 1930s, with a changing bassline and minor to major key-shift in the chorus. It caused some controversy in Ireland because of its innuendo and racy lyrics, with women's groups deeming them as harmful; Madonna later clarified that the lyrics were intended as a joke.