Lyric discussion by debaser247 

Cover art for Paint a Rainbow lyrics by My Bloody Valentine

I don't think it's not actually about fucking dead person. The "eyes of red lips of blue" thing is just a metaphor for someone who is sad and dead inside. The singer is saying to this person who is dead inside is that all they need is a good fuckin. And most of the song is just made up of metaphors for this guy ejaculating all over her.

"Earthen trail of slimy goo I smear it on your cheeks like rouge"...he's jizzing on her face.

Painting a rainbow means jizzing too.

"Little drops of shark infested sea"...he's talking about semen here.