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The song is a tribute to the colorful characters of New York City's underground scene in the 1960s. Each verse tells the story of a different person, such as Holly Woodlawn and Candy Darling, who were part of Andy Warhol's inner circle.
The song was written and originally performed by Lou Reed, who was a member of the influential rock band, The Velvet Underground.
The song was released in November 1972 as a single from Lou Reed's second solo album, "Transformer."
Lou Reed was inspired by the people he met and the experiences he had in New York City's underground scene, particularly at Andy Warhol's Factory, a famous art studio and hangout spot for artists, musicians, and performers.
Yes, the song has been covered by many artists, including David Bowie, Bryan Ferry, and Duran Duran. It has also been featured in numerous movies, TV shows, and commercials, making it one of the most recognizable and enduring songs of the 20th century.