Taken from an interview with My Car and My Guitar:
Joe: The whole album is about dualities, and that song is probably about the child-adult duality. And the verses are about kids growing up, and the choruses are about whatever chaos or strife is caused by competition for partners?
I was looking at Where The Wild Things Are, also. And I pictured this boy going into his closet and seeing a monster party. A party full of monsters dancing, like in this movie Jacob’s Ladder, also. Just a lot of visions like that kind of influencing the song.