I think the song is about a relationship coming to an end. It should've ended long before now, but it has come this far. He is ready to settle down for a real relationship, but she's still having fun and have fun being foolish and young. But he is "bored with being foolish and young". The pickin' it up, but then put it back down i think refers to him wanting the relationship but wanting to end it. He wants to pick it up and keep it going, but he wants to put it down and let it go.
I think the song is about a relationship coming to an end. It should've ended long before now, but it has come this far. He is ready to settle down for a real relationship, but she's still having fun and have fun being foolish and young. But he is "bored with being foolish and young". The pickin' it up, but then put it back down i think refers to him wanting the relationship but wanting to end it. He wants to pick it up and keep it going, but he wants to put it down and let it go.