[5] Consolidating the rhythmic innovations of earlier James Brown recordings such as "I've Got Money" and "Out of Sight", "Papa's Got a Brand New Bag" is considered seminal in the emergence of funk music as a distinct style.

As Brown sings the praises of an old man brave enough to get out on the dance floor of a nightclub ("brand new bag" meaning new interest, taste, or way of doing something[6]), his band provides a horn-heavy backdrop with a prominent rhythm and an electric guitar riff for a hook.

The taped recording of "Papa's Got a Brand New Bag" was edited and sped up for its single release, increasing the tempo and raising the pitch by a half step.

In 2004, "Papa's Got a Brand New Bag" was ranked number 72 on Rolling Stone magazine's list of the 500 greatest songs of all time.

Towards the end of one of the mixes of Public Enemy's 1994 song "Give It Up", Flavor Flav is heard to say "Papa's got a brand new bag."