With yet another clever and sarcastic lyric by Frank Hanson, Picture of a Lady is about a "flash in the pan" model whose time came and went. In the long gone days of newsstands with all of the latest magazines, it was typical to see the same models in many different places. They would, however, soon disappear to be replaced by a new "flavor of the month". It's a typically funky Thin Ice song with a more experimental approach. Each verse of the song switches key centers by going up a minor third. The middle instrumental section also represented a new approach because of the use of different time signatures. In this case 7/8.