Lyric discussion by deep nothing 

Cover art for Guitarmy lyrics by Blood Brothers, The

i think this song is about how the average kids in high school played pranks on the jocks and they are at their 10 year reunioun saying "do you remember us? we wrapped your corvette in cellephane." After that, they say how the "party" (reunion) is dying and they want to play a show hence when they say "guitar me" (give me a guitar) and after that, everyone forgets about how gay highschool was and now is celebrating the band.

just my take.