Dolly Parton has always loved a good joke, even — and sometimes, especially — if it's at her own expense. Sometimes, however, those jokes lead to wild rumors, like the one that she had her breasts insured. Parton set the record straight about that particular tall tale during a Jan. 26 stop on NBC's Today With Hoda & Jenna.

"It's not true," Parton clarifies with a laugh.

Rumors that Parton's breasts were insured started heating up after model Heidi Klum revealed on the Ellen Show that she had insured her legs for $2 million. If Klum's signature body part could be insured, many fans wondered, why shouldn't Dolly's world-famous breasts get the same treatment?

But Parton explains that she's been joking about insuring her boobs for years, inspired by another star who insured her legs for $1 million: Actor and pinup star Betty Grable.

"Years ago, it was Betty Grable, or one of the great famous stars that was famous also for her legs? At that time, I said, 'Well, maybe I should get my boobs insured since I'm famous for them.'"

But, she adds, "It was just a joke. I did not do that."

It wasn't really a fair comparison between the body parts, she goes on to say, quipping, "You can get new boobs, but you can't get new legs."

Parton's kicking off 2022 with a flurry of new career endeavors. She just launched her own line of cake mixes with Duncan Hines, and in March, she'll release her first-ever novel, Run Rose Run, which she co-wrote with author James Patterson. Parton is also putting out a companion album of the same title.

See Dolly Parton's Life and Career in Pictures