From the 1982 hit movie, Ladies and Gentlemen, the Fabulous Stains.
This is a version of the song by the all-girl band The Stains. Lead singer is actress Diane Lane in a very early role.
Scene at the mall where the girls steal the boys’ hit song and perform it in their own band:
They go onto to great fame with their ripped off song. Those little sluts! Closing credits for the movie: