A running gag in several of the early comic strips features a pastiche of Little Annie Fanny (published by Playboy, Penthouse's main competitor) in which the character is found out to have fake breasts or buttocks which deflate when popped.

She lived in an old castle called the Schloss (the German word for 'castle') on Lake Zurich, Switzerland, and ran a bank which, among other things, contained secrets that could bring down world governments.

Wanda drove a Supo Delecto Peniso Flagrante sports car, which, as its name implies, resembled a phallus and was capable of attaining a top speed of 160 miles per hour.

Throughout her adventures, Wanda was also assisted by her elite army of “butch-dikes”, the Puss International Force, or PIF, the commander of which was General German Grrrr.

(A play on renowned feminist Germaine Greer; "German" was her forename, not her nationality; the precise number of R's in her last name tended to vary from one month to the next.)

He then proceeded to increase his fortune still further through various underhand dealings, with amongst others, Lenin, to whom von Kreesus lent a train fare when the communist leader was on his way to a 3 April 1917 important meeting.

His appearance was a not-so-subtle reference to the incident in which he drove off the Chappaquiddick Bridge, killing his companion, Mary Jo Kopechne.

For example, in the debut strip, Wanda and Candyfloss visit Madame Tussaud’s “waxworks,” passing the likenesses of Richard Nixon, Spiro Agnew, Charles de Gaulle, Lyndon Johnson, Fidel Castro, Henry Kissinger, and Mao Zedong, among others, as they make their way toward the museum's “Chamber of Horrors.” These satirical portraits were usually given names similar to the names of the people they parodied: Marlon Blondo (aka Burpo), Henry Kissarun, Norman Mailman, and Herod Huge, for example.

Other famous figures that Wanda and Candyfloss encountered include Bob Hope, John Wayne, W. C. Fields, Mae West, Clark Gable, Humphrey Bogart, Marilyn Monroe, Stan Laurel, Oliver Hardy, Muhammad Ali, Salvador Dalí, Benjamin Spock, Charles Bronson, Lee Marvin, Liberace, Howard Hughes, Harold Wilson, Edward Heath, Ronald Reagan, Kirk Douglas, Idi Amin, William Conrad, Golda Meir, Rasputin and Billie Jean King.

The strip also included satirical sketches of well-known cartoon and comic strip characters, such as Mad Magazine’s Alfred E. Neuman; Playboy’s Little Annie Fanny; Walt Disney’s Seven Dwarfs, Mickey Mouse, and Donald Duck; Walt Kelly’s Pogo, George Herriman’s Krazy Kat, and Bud Fisher's Mutt and Jeff.

On their first adventure, Wanda and Candyfloss decided to buy Madame Tussaud's “waxworks” as a way to acquire figures of famous men and women with whom to equip the “museum of living apes” that she planned to establish at the mansion that she has inherited from her father, Walter, the late King Gnome of Zurich.

In the third installment of the first adventure, Wanda and Candyfloss decided to add some politicians to their Museum of Misfits, and they went after California Governor Ronald Reagan.

was replaced by Sweet Chastity, another comic illustrated by Ron Embleton and scripted by Penthouse's publisher, Bob Guccione.