The song lyrics were written by the band Van Halen, as they were asked to write a song for the 1979 movie "Over the Edge" starring Matt Dillon. The movie (and the lyrics, although more obliquely) are about bored, rebellious youth with nothing better to do than get into trouble. If you see the movie, these lyrics will make more sense. It's a great movie if you grew up in the 70s/80s you'll definitely remember some of these characters from your own life. Fun fact, after writing the song, Van Halen decided not to let the movie use it.
Well, he says he's got a big boat
A high roller
And everybody knows it's name
Oh, it's a big boat and it pumps up the poor boys pride
Says he's got a big boat,
But it's just a fairy boat and that makes for a short, short ride
Says he's got a big boat
A wide load
Enough to bring the party down
Oh yeah a big boat,
It ain't no carnival cruise
Says he's got a big boat,
But it's just a fairy boat, enough to fit an extra one or two
Says he's got a big boat,
But it's just a fairy boat and that makes for a short, short ride
Says he's got a fast boat, talk about high speed
But everybody knows the truth
Oh hey, a big boat
Get your oars back in the water, kid
Says he's got a fast boat,
But it's just a fairy boat it ain't to faster than a goldfish
Says he got a big boat but it's just a fairy boat and that makes for a short, short ride
A high roller
And everybody knows it's name
Oh, it's a big boat and it pumps up the poor boys pride
Says he's got a big boat,
But it's just a fairy boat and that makes for a short, short ride
Says he's got a big boat
A wide load
Enough to bring the party down
Oh yeah a big boat,
It ain't no carnival cruise
Says he's got a big boat,
But it's just a fairy boat, enough to fit an extra one or two
Says he's got a big boat,
But it's just a fairy boat and that makes for a short, short ride
Says he's got a fast boat, talk about high speed
But everybody knows the truth
Oh hey, a big boat
Get your oars back in the water, kid
Says he's got a fast boat,
But it's just a fairy boat it ain't to faster than a goldfish
Says he got a big boat but it's just a fairy boat and that makes for a short, short ride
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I like the pun I guess, of Fairy boat, which could also be ferry boat, which is also another lame boat