"Sugar, We're Goin Down" is the first single released from Fall Out Boy's album, From Under the Cork Tree (2005). The single reached #8 in the U.S., becoming Fall Out Boy's first top 10 single. This single launched the band into the MTV mainstream. Two different CDs were released with different B-sides, Part I with a green cover and Part II with a red cover.

The line, "I'll be your number one with a bullet" is a nod towards the movie, High Fidelity, where Rob talks about Laura being on his Top 5 of Worst Break-Ups with a bullet.