This work was begun as a sketch in 1887 but was subsequently abandoned for a long time, finally being completed in 1993. It was then published the following year. Fauré composed very few piano works between 1886 and 1992. While all four of Fauré's Valses-Caprices are written in distinct styles, this particular work stands out significantly from the others. For instance, there are frequent modulations, and the bass line played by the left hand often serves as the impetus for these modulations. Furthermore, the melody is often passed between the left and right hands, requiring a close connection between both hands during performance.

The work was praised by pianist Alfred Cortot for its "ingenious handling of rhythm, and profound knowledge of the instrument and form."