Pink Cashmere is the 13th track (second of two new tracks) on Prince's first compilation album The Hits 1 (also included as the first disc of The Hits / The B-Sides), and, two weeks prior to the album's release, Pink Cashmere was released as the album's first single (in North America, Europe and Australia).
In 1996, the track was included as the second track on the soundtrack album Girl 6 (a compilation of music by Prince and associated artists for the movie Girl 6, directed by Spike Lee).
Basic tracking took place on 10 June 1988, at Paisley Park Studios in Chanhassen, Minnesota (during the same session as Times Squared (That was then known as Sticky Wicked, not to be confused by the Chaka Khan song of the same name, and Pickle, two days before an entirely different song named Sticky Wicked). The session actually started on 9 June with the other songs, but Prince did not commence work on Pink Cashmere until 2 a.m. on the 10th.
The synths from the basic tracking session were added to by Clare Fischer's orchestration at Mad Hatter Studios in Los Angeles, California at a later date.