Wally is an unreleased song originally recorded on 28 December 1986 at Prince's Galpin Blvd Home Studio in Chanhassen, Minnesota (two days after finishing a three-month stay in Los Angeles by recording Pony Ride).
After finishing the song Prince ordered engineer Susan Rogers to erase all channels on the the 24-stem recording, against her pleas not to. A new version for which Eric Leeds and Atlanta Bliss added horns, was then recorded two days afterwards.
The original version was a solo recording dealing with Prince's break-up with Susannah Melvoin, and thanking Wally Safford for being his friend. He felt the song was too personal, however, and kept adding layers of percussion and changing the feel of the track.
The song is not known to have been considered for inclusion on any configuration of Sign O' The Times or any other project at the time.