I think the whole song is from the dog's point of view. The dinner bell is the bell the dog's owner rings when it's time to eat. While he's waiting for the ring, the dog is seeing all this food on the table, but he knows it's not for him so he doesn't want it.
In the next verse, he's not sure if he'd rather eat the food or wait, because he's getting hungrier, however, due to his obedience he continues to wait.
I got the same impression as kickstart71, the "Shoulder, bicep, elbow, arm" part could represent the owner finally ringing the bell and giving the dog some food.
I think the whole song is from the dog's point of view. The dinner bell is the bell the dog's owner rings when it's time to eat. While he's waiting for the ring, the dog is seeing all this food on the table, but he knows it's not for him so he doesn't want it.
In the next verse, he's not sure if he'd rather eat the food or wait, because he's getting hungrier, however, due to his obedience he continues to wait.
I got the same impression as kickstart71, the "Shoulder, bicep, elbow, arm" part could represent the owner finally ringing the bell and giving the dog some food.