In this review, the latest results about the chemical physics behind the bubbling properties of Champagne and sparkling wines are collected and fully illustrated. The chemistry of carbon dioxide molecules dissolved into the liquid matrix (section 2) is presented, as are the three main steps of a fleeting bubble's life, that is, the bubble nucleation on tiny particles stuck on the glass wall (section 3), the bubble ascent and growth through the liquid matrix (section 4), and the bursting of bubbles at the liquid surface (section 5), which constitutes the most intriguing, functional, and visually appealing step.