The song "Cancelled!" by Taylor Swift from her album "The Life of a Showgirl" is widely speculated to be about Blake Lively. Fans interpret the lyrics as a defense and show of loyalty towards Lively amid public criticism and controversy, especially relating to Lively's legal troubles and media scrutiny. The song mentions themes that align with Lively's public image, such as references to Gucci and scandal, and suggests a complex bond of friendship and support despite challenges. On the other hand, another song from the album, "Ruin the Friendship," which some initially thought was about Lively, is actually about a high school crush and not about Blake Lively. In summary, "Cancelled!" is the Taylor Swift song most closely associated with Blake Lively, portraying a nuanced and empathetic view of their friendship.