It's a Mercury Records single from 1975, produced and co-written by Paul Vance, who had an extremely successful string of hits in the '50s-thru-'70s, such as Brian Hyland's "Itsy Bitsy Teenie Weenie Yellow Polka Dot Bikini" and Perry Como's "Catch A Falling Star." Singer Linda Bennett was another pro, with an RCA album and several tv and movie credits under her belt by the time they made this. And, of course, Mercury was a major label. So there was no excuse for this.
It's starts off as a typically bland bit of mid-70s pop, then slowly moves into the twilight zone before arriving at a simply ludicrous, laugh-til-you-cry ending. SPOLER ALERT: Don't read the comments to this post until you've heard the song!