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Brandon Boyd – The Wild Trapeze Lyrics 12 years ago
Thanks to Clew for the input on 'enlightenment'.
I really don't believe my own interpretation, but there aren't any other interpretations, so I'm sharing my own:

The wild trapeze probably represents an unstable road forward, like a problem. The more you try to go on, the more you're likely to fall.
What you are supposed to do is to "Stand still like the hummingbird in flight" until you get your shit together.

The last paragraph may be talking of the boy who has given up, his wits and whim broken. He leaves the wild trapeze because it's too scary.

I still don't know what the guitar has to do with it.

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