Paul McCartney's "Paul Is Live" 2 LP, baby blue, peachy white vinyl was recorded during the tour in support of Off The Ground. It was Paul's fifth live album and is famous for its title's double meaning and the rumor-scotching cover art.
Ever since the 1969 release of Abbey Road, there had been hoax-fuelled stories of Paul's untimely death. The new title was a way of saying that this was most definitely not the case.
The artwork is a play on the famous Abbey Road cover, with Paul crossing that same street but wearing shoes and using his left hand.