Lyric discussion by voodoodolly 

"Pink glove" is referring to lingerie - hence "baby-doll nighties with synthetic fluff" and it "fits you okay".

The speaker's (Jarvis') ex girlfriend is basically dressing up in cheesey lingerie to please her current Significant Other (who has some pink lingerie fetish), and the speaker is mocking it as a way to mock their relationship. Of course, like most Pulp songs, the speaker is bitter about the fact that the girl is now with some lame, cheesey guy instead of him ("he's got your heart, you've got his soul"). He knows she will never leave her SO, but he wants her to have an affair with him & to admit she was happier with him.

The speaker is saying she got it right first time, meaning she got it right when she was dating him & implying she is getting it wrong with her current SO. He's basically making a pass at her by saying she could "get it right" again with him, and to come "visit" him & lie to her SO about where she is going (to have an affair with him).

"I know you think I've got to be joking, but if you touch him again, then I'm going" - I think this line is about his repulsion over her being with her SO, and possibly he has seen them engage in PDA and it stung him. OR, it's a threat that if she keeps sleeping with her SO, then he'll end the affair. In any case, he is expressing jealousy.

I always thought this song tied in with "Do You Remember the First Time?". It has pretty much the same theme of bitterness over an ex & her new relationship. He mocks the new relationship, but still vies for an affair with his ex, claiming he doesn't really care & just wants sex.

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