Lyric discussion by DAS JETS 

Yeah, don't know the meaning, but all the posts seem plausible. Definitely involving a promiscuous woman. Or is it a transvestite? “He's walking around In this dress That she wore She is gone But the joke's the same” Could be Caroline the man reflecting after Caroline the woman did her thing w/ the last dude (perhaps it’s only during sex that he truly feels like a woman).

BTW, Social Distortion does an outstanding cover of this song.

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