Lempicka created many paintings of aristocrats from Paris, but this painting was slightly different, perhaps due to the subject matter. Lempicka became a mistress of a wealthy art collector and after this became known as "The Baroness with a Brush". She sometimes struggled to be taken seriously, perhaps because of her wealth and place in society. But one thing that always kept her in controversy was her rumoured affairs with both men and women. It is little wonder that "Portrait of Ira P" was such a popular painting of hers, considering there were many rumours of the two women having an affair.

In the painting Ira Perrot is wearing a white satin gown. The gown is draped around her somewhat seductively. She is also wearing a red shawl, and carrying a bouquet of arum flowers, which were the artist's favourite. The red shawl matches her fingernail perfectly, suggesting Ira was either an acutely manicured person in general or she made a substantial effort to look good for the painting. The painting is painted in Art Deco style, which is the preferred style of Lempicka and the style she painted many other subjects in. Art Deco alludes to a painting style that is "decorative", and you can see how heavily stylised the painting is when you look at the shading of the shawl, the gown and the flowers.

The painting is still sold in prints today, and is still very popular. One of the more unusual things about the painting is that Tamara de Lempicka did not paint any other subjects she was close to. Ira Perrot was a socialite and a married woman, and the release of the painting did nothing to quell rumours of an affair. In their later years, the two women grew apart, but Lempicka still did not paint any other lovers, family members or close friends, with Ira remaining the only subject she painted until her death.