Lyric discussion by onetwothreefourfive 

Cover art for I'm Still Your Fag lyrics by Broken Social Scene

Like most people, I think it's about a relationship between the openly gay narrator and a man who got married and tried to live a straight life.

But I think the context of the song is that the speaker had a fling with the guy earlier in life, AND has just now slept with him again.

"Heard about your wife and kids where we slept" [Speaker learnt about the guy's wife and kids as they lay in bed after sex] "Felt their mouths with stitches at that were slowly lit" [Possibly a sympathetic reflection on the man's family who can only now understand or talk about why their father/husband was distant and strange due to his latent sexuality] "Kept your uniform this time because I couldn't quit" [Not sure, but in some schools it's a tradition that when a school year is leaving that they write messages on each other's clothing or sports teams swap shirts; the overall sense is that the speaker didn't take a memento of the guy but has probably wanted one for years as he couldn't quit thinking about him] "Haven't felt the ground so cold without getting sick" [Having had sex with a married man, possibly in the family home, the speaker is sensitive to the hallowed ground he is treading on (i.e. a wife and kids) and therefore finds the ground cold and uninviting]

"And I'm still your fag I'm still your fag" [As previously discussed it's slightly mocking, but it also reflects that the speaker's attraction to the guy has, perhaps unfortunately, lasted all this time.]

"It's a possibility to live without lips" [Lips representing truth and passion, the married man hasn't been truthful about his sexuality or able to express it] "Clinics love to fill right up with the broken kids" [The father's emotional distance made their home somewhat broken] "I swore I drank your piss that night to see if I could live" [Submitting to the married man's unpleasant fetish represents the decision whether the speaker could see a future with this repressed man as his submissive 'wife'] "But my wrists couldn't stand the light that we missed" [But a relationship seems unlikely as the speaker couldn't stand the lost decades of good times, and would be entering a relationship in the dark period with a jaded man. Wrists are symbolic both in that the pulse (therefore life) is close to the surface, and that the wrists handle the day's work (reflecting emotional work to be done if this relationship were to go ahead)]

"You're only coming out because you came back in You're only coming out 'cause you came back in" [The only reason for the married man's coming out is that he tried to deny his sexuality in the first place]

This might seem like a very literal interpretation but it makes sense to me.

My Interpretation

"lips" in this case would be a reference to the labia, therefore it is possible to live without women.