Steven himself explains the story behind the song. Jamieanne92 is right, he was giving a bath to 2 of his daughters, Stevie Joy and Maria. It was frustrating, but he realized that these are the precious moments that will be gone before you know it. He wrote this before Maria's tragic death. Now the song has a whole new meaning.
http://www.youtube.com/watch?v=fhDDzbA8unA
Steven himself explains the story behind the song. Jamieanne92 is right, he was giving a bath to 2 of his daughters, Stevie Joy and Maria. It was frustrating, but he realized that these are the precious moments that will be gone before you know it. He wrote this before Maria's tragic death. Now the song has a whole new meaning.