In 1971, Holly left the Buckaroos, stating, "(I) went just as far as I could go" with the Buckaroos. He formed a band called the Vanishing Breed and signed with Andy Williams' label Barnaby Records. He recorded two albums and some of his own songs, such as "Woman Truck Drivin' Fool", "Queen of the Silver Dollar", and "Lila". Seven singles hit the country music charts, of which "Lila" made the most successful peak at No. 17 in 1973. Holly continued to record and release singles throughout the 1970s and scored a minor hit with "A Rainbow in My Hand" and a jukebox hit "Richard and the Cadillac Kings." Holly is honored in the Rockabilly Hall of Fame and received a block in the Walkway of Stars at the Country Music Hall of Fame in 1980.