Maybe this is a silly question, but I don't understand the lyrics of "The Lady is a Tramp." I've always thought the word "tramp" had a negative connotation, meaning either "a woman of questionable morals" or "a hobo". But in the song, it seems like the singer is expressing admiration for the lady by referring to her as a "tramp". So what exactly does "tramp" mean in the context of this song?
And further, why did Frank choose to sing it as "The Lady is a Champ" on the Duets album?