Paul McCartney got many of his best song ideas when he was on holiday, and this one came to him in 1995 when he was on vacation in America. He explained in the liner notes to the album: "The lyrics were just gathering thoughts. Like 'I go back so far, I'm in front of me'- I don't know where that came from, but if I'd been writing with John he would have gone 'OK, leave that one in; we don't know what it means but we do know what it means'."
McCartney worked on the Flaming Pie album during and after work on the Beatles Anthology project, and some of the songs, including this one and "Little Willow," are reflective of his time in the group and deal with people in the Beatles family. Longtime Beatles associate Geoff Emerick worked on the album as an engineer.