The song's lyrics allude to the constant paparazzi and media backlash regarding Lohan.
In the United States, the single peaked at number six on Billboard's Bubbling Under Hot 100 Singles chart.
It was certified Gold by the Recording Industry Association of America (RIAA) for shipping over 500,000 units of the single.
The accompanying music video for "Rumors" was directed by British director Jake Nava.
In 2014, Billboard ranked the song in its "Top 50 Forgotten Gems From the Now! Series", which list songs from the series that were underrated at the time of their release.