In 1994, the Presidents signed with the tiny Seattle label PopLlama Records and released their self-titled debut in the following year. Columbia Records signed the band shortly thereafter and re-released the album in late July, 1995. Driven by the singles "Lump," "Peaches," and "Kitty," their debut album proved to be a smash.

Critics praised the Presidents' catchy, humorous, and self-deprecating songs, which were a major departure from the grunge/post-grunge sound. The album received Grammy nominations in 1996 and 1997. Though "Peaches" met the most critical success, the band credits "Lump" as their favorite single. The song's strange lyrics came from a dream that Ballew had while fighting pneumonia. The antibiotics he was taking caused an allergic reaction that produced several consecutive nights of wild and crazy dreams. The lyrics for "Peaches" were written about a crush Ballew used to have on a girl. According to him, she had a peach tree in the front of her yard, and when he finally summoned the courage to go talk to her, he stood under the tree and smashed peaches in his fist until he decided not to talk to her.