Lyric discussion by pyae 

Cover art for Lily (My One and Only) lyrics by Smashing Pumpkins, The

i dont think its entirely about a stalker but i think its about a boy whos completly in love with a girl beyond him and just try his best to get her notice him >>"cause i'm hanging in this tree in the hopes that she will catch a glimpse of me" peeping toms or stalkers prefer to be anonymous but the person describe isn't afraid of his love to be known so his intentions must pure not malicious. it kinda like a black humour

It reminds me of American Pie...