The first Monkees version of the song was recorded on October 26, 1966, during the period when the band did not perform their own instruments as much on their recordings. This version was produced by Jeff Barry, and was used in a first-season episode of their series ("Dance, Monkees, Dance" and "In the Ring"; the show's credits mistakenly list the title as "I'll Be Back On My Feet Again"). The record was slated to be included on More of the Monkees, but was pulled from the album's lineup, and never originally released.
During 1967 and 1968, the Monkees remade several of their earlier songs, including "Valleri" and selections that appeared on their Headquarters album, after the band had graduated to playing more of their own instruments on record. During sessions for their Pisces, Aquarius, Capricorn & Jones Ltd. album, the Monkees tried a remake of "I'll Be Back Up on My Feet", but did not complete it.
The next version of the song was recorded on March 9 and March 14, 1968, after the Monkees had become their own producers. It was markedly different from their first version, including the use of a brass section and an extra chord change (from D Major to D minor, where the first version had stayed on D Major). This version appeared on their 1968 album The Birds, The Bees, & The Monkees.