A new cultivar of Hosta hybrid Hosta 'Hanky Panky', a sport of Hosta 'Striptease', characterized by its unique variegated foliage with spring foliage having dark green centers and light green margins with a stripe of white that occurs at the junction of the center and the margin. The foliage changes in late summer and fall progresses and matures to a pattern having light centers with a deep green area replacing the white stripe area and greyed-yellow margins.