Lyric discussion by IMAROCKSTARRU12 

Cover art for Dress Me Like a Clown lyrics by Margot & the Nuclear So and So's

margot refers to margot tenenbaum. the song is about the movie; an article confirms this in harp magazine from i think september. the article is probably online. miki is right, the song refers to margot's infidelity in the film the royal tenenbaums, whether it's to her husband or to her adopted brother richie. she's screwing around with eli cash. the end.