The piano music known as the "Minute Waltz" was composed by Frédéric Chopin. Now, Chopin's popular Waltz in D-flat, Op. 64, No. 1 is commonly known as the "Minute Waltz" and is commonly pronounced "min' it." A publisher gave the waltz that nickname because it was short, and therefore minute (meye' noot), not because it can or should be played in a minute. But this hasn’t stopped people from trying. Music experts have noted that it is usually played, clocking in at around 1 minute 49 seconds.

The waltz is 138 measures long, so a nimble-fingered pianist will have to smash out no fewer than 7 quarter notes a second in order to play it within a single minute. When the Chopin's "Minute Waltz" is played in under a minute, it is usually held by all who hear it that it sounds unsurprisingly terrible.

Also, it is interesting to note that there is a vocal version of the piece, with lyrics by screenwriter Lan O'Kun; it has been performed by multiple artists. Barbra Streisand did it on her 1966 album 'Color Me Barbra'. O'Kun's lyrics perpetuate the notion that the tune should be performed in one minute, although Streisand's performance clocked in at just under two minutes.

Finally, a urban legend states that the piece was conceived when Chopin saw a dog chase his own tail. He was asked by a good friend to convey this scene of the dog to music. Chopin sat at the piano and started improvising, and from his improvisations, the "Minute waltz" was conceived.

More Info: en.wikipedia.org