I always thought it was "now I've come to bring you death...cake." haha
brilliant song. the depressing moog perfectly accompanies this strange...frankenstein-esque tale.
Great song, found out about it and Momus because of Grant Morrison's Professor Pyg character in the Batman and Robin comic book, which is really great btw.
Anyway, the great thing about this song is that it looks at the Pygmalion myth as a dysfunctional tale of incestuous narcissism. Basically, Herr Professor Pygmalion falls in love with a statue and brings it to life expecting it to love him back, but the dual role of father and sexual lover incites the creation to rebel. But even then, at night she sings the songs Professor Pyg has taught her, even as she cuts up the stupid sexy (Flanders!) clothes he's bought her - she resists him but she's still scarred and can't completely escape him. It's just very wrong and horrible and I think it's also about the danger of being too selfish in love.
Also, the "Daisy Daisy" part is totally a reference to HAL 9000.