"Houdini" echoes Eminem's 2002 hit "Without Me." It starts with familiar rhymes: "Guess who’s back, back again / Shady’s back, tell a friend."

Eminem and his collaborator Luis Resto produced the song. It references Steve Miller Band’s “Abracadabra” on the chorus.

The song mentions Megan Thee Stallion's shooting incident. It questions if there's a chance for a collaboration.

In true Eminem fashion, he fans the flames of controversy by making disparaging remarks about transgender people, RuPaul, and his own kids, calling them "brats." "Get rid of me

Well, that concludes everything. Paul, please go now. You male transvestite, snake-ass prick, and false ass bitch / And for that, I'll probably be screwed (watch) / However, you can all fuck them and suck my dick. Fuck me, fuck you, fuck Jimmy, fuck Dre

The song's music video pays a clear reference to "Without Me," with Eminem entering a time portal that transports him back to the year the song was released.