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Abstract We present a broad review of$$1/f$$ $1/f$noise observations in the heliosphere, and discuss and complement the theoretical background of generic$$1/f$$ $1/f$models as relevant to NASA’s Polarimeter to UNify the Corona and Heliosphere (PUNCH) mission. First observed in the voltage fluctuations of vacuum tubes, the scale-invariant$$1/f$$ $1/f$spectrum has since been identified across a wide array of natural and artificial systems, including heart rate fluctuations and loudness patterns in musical compositions. In the solar wind the interplanetary magnetic field trace spectrum exhibits$$1/f$$ $1/f$scaling within the frequency range from around$$\unit[2 \times 10^{-6}]{Hz}$$to around$$\unit[10^{-3}]{{Hz}}$$at 1 au. One compelling mechanism for the generation of$$1/f$$ $1/f$noise is the superposition principle, where a composite$$1/f$$ $1/f$spectrum arises from the superposition of a collection of individual power-law spectra characterized by a scale-invariant distribution of correlation times. In the context of the solar wind, such a superposition could originate from scale-invariant reconnection processes in the corona. Further observations have detected$$1/f$$ $1/f$signatures in the photosphere and corona at frequency ranges compatible with those observed at 1 au, suggesting an even lower altitude origin of$$1/f$$ $1/f$spectrum in the solar dynamo itself. This hypothesis is bolstered by dynamo experiments and simulations that indicate inverse cascade activities, which can be linked to successive flux tube reconnections beneath the corona, and are known to generate$$1/f$$ $1/f$noise possibly through nonlocal interactions at the largest scales. Conversely, models positing in situ generation of$$1/f$$ $1/f$signals face causality issues in explaining the low-frequency portion of the$$1/f$$ $1/f$spectrum. Understanding$$1/f$$ $1/f$noise in the solar wind may inform central problems in heliospheric physics, such as the solar dynamo, coronal heating, the origin of the solar wind, and the nature of interplanetary turbulence.