Waylon Jennings recorded 'The One and Only' in 1967 for A&M Records, a label looking to expand its catalog into country music. The album was produced by Herb Alpert, known for his work with the Tijuana Brass, and represented an attempt by Jennings to achieve a more polished, commercial sound.
Despite Alpert's production, the album did not achieve major commercial or critical success. Jennings, dissatisfied with the result, felt the sound did not reflect his authentic, rough country style. The album includes covers of popular songs from the era.
Over time, 'The One and Only' has become a rarity in Jennings' discography, difficult to find in modern formats. It marked a brief stint with A&M before Jennings returned to RCA Victor, where he would develop his signature outlaw country sound.