Baskets was co-created by Louis C.K., Zach Galifianakis, and Jonathan Krisel, with Krisel serving as showrunner and director; the project began when C.K.'s production company Pig Newton signed a deal with FX in December 2013 to develop new shows.

The show incorporated several ideas that Zach Galifianakis originally developed for Between Two Ferns: The Movie but which were discarded early in that film's development.

Galifianakis said that master clown Philippe Gaulier and his clown school, École Philippe Gaulier in France, served as an inspiration for the show's premise.

Zach Galifianakis plays a dual lead role, portraying both main character Chip Baskets and his twin brother Dale Baskets.

In November 2017, after Louis C.K. admitted that sexual misconduct allegations against him were true, FX canceled its overall deal with C.K.'s production company Pig Newton, cutting all ties between C.K. and the show for future seasons.

The first season received generally positive reviews, holding a 70% approval rating with an average score of 7.4 out of 10 on Rotten Tomatoes based on 36 reviews, and a score of 68 out of 100 on Metacritic based on 32 reviews.