The song "Penelope Halfpenny" by Elvis Costello & The Imposters tells a story about three characters: Penelope Halfpenny, Ruth in red, and Beckett in blue. The lyrics portray a scene where Penelope is sitting on a desk and stretching while grinning. As she cracks her spine, the narrator suggests that they both commit a sin. Following this, Ruth in red and Beckett in blue enter the confessional, indicating their desire for repentance. Inside the confessional, they unlock their dreams and reveal their secrets. Meanwhile, in another setting, lovers run their hands on nylon, hinting at a sensual encounter. Penelope Halfpenny is described as someone who asks for a great deal and quickly moves on to squandered ambitions, perhaps symbolizing a restless nature. Despite her involvement in reporting to the Scotland Yard blotter, the narrator suggests that this occupation doesn't hold much significance in Penelope's life. Ruth in red falls from her bed, emphasizing her vulnerability, while Beckett in blue is bleeding from the springs below, indicating pain or suffering. The repetition of their names and the plea for forgiveness suggests that they may be seeking redemption. As the song progresses, it mentions Penelope coming and going, leading to an assumption that her savings are all spent. Her distinctive style and appearance fade away with slight monetary changes. The fates of Beckett in blue and Ruth in red are uncertain, potentially implying that they may be dead or happily living elsewhere. However, they might have a chance for redemption and forgiveness if they make it to the church door in time. Overall, the meaning of the song seems to revolve around the complexity of human desires, the pursuit of redemption, and the fleeting nature of materialistic pursuits.