Lyric discussion by AlGoreRhythms 

Cover art for Days of Elaine lyrics by Decemberists, The

The song gives me the feeling of a mother recalling stories of her youth to her son. Before she grew old, she was as alive and rambunctious as her son. She feels old now, asking, "Now, doesn't it go so slow?"

Perhaps Elaine was a friend of the mother's.

That's the vibe it gives me, it's the setting I've laid for the song.