Lyric discussion by Cerebella 

Cover art for Mermaid lyrics by Elysian Fields

this song is lovely, subdued and hypnotic. Mermaids typically come to represent secrecy, unobtainable passion, and slightly dark sexuality. They are not to be trusted, because they can't become fully human. They are beauty that is hidden in dark waters, and because of this, they also signify magic nearby. I think the poetry of the song captures the feel of the idea of a mermaid very nicely.