"(What's So Funny 'Bout) Peace, Love, and Understanding" is a 1970s song written by English singer/songwriter Nick Lowe and recorded in the best-known version by Elvis Costello. The Elvis Costello & The Attractions version was first issued as the B-side of Lowe's 1978 single "American Squirm" credited to "Nick Lowe and His Sound". At the time, Lowe was Costello's producer, and he produced this track as well. When the song became a hit, it was quickly appended as the last track to the US edition of Costello's album Armed Forces. It has appeared on most of Costello's "Best of" compilations over the years, as well as on the soundtrack to the film "200 Cigarettes". Live versions appeared on Rock and Roll Hall of Fame, Volume 7: 2002-2003, and 2012's The Return of the Spectacular Spinning Songbook, both by Elvis Costello and the Attractions. In 2004, Rolling Stone magazine ranked this version of the song as the 284th best song of all time.