Lyric discussion by FirstGoFre 

Cover art for Pierrot The Clown lyrics by Placebo

It's so obviously about two people in a BDSM relationship, one who's into that sort of thing, and one who isnt and is only putting up with it for the other person, the second one being the 'pierrot' archetype and narrator of the song...

Trust me, I would know when it comes to BDSM...

"Leave me dreaming on the bed See you right back here tomorrow For the next round."

i.e. I'm dreaming of more than just kinky sex, but that's all I'm getting and I know you'll be back to do it all over again...

"Keep this scene inside your head As the bruises turn to yellow The swelling goes down."

i.e. when doing something BDSM it is referred to as 'a scene' between the two people (eg, a 'scene' where you dress up like a schoolgirl and i put a ball gag in your mouth and get the riding crop out)... The 'bruises turn to yellow' bit is because in BDSM black and blue is just like 'fisher price baby steps: my first beating' and the beating goes on till the bruises turn yellow and brown, and the welts rise up off the skin, so the whole bit translates as "remember the BDSM game we played, even after the bruises change colour and all the big bulging welts you beat on my ass go down."

"And if you're ever around In the city or the suburbs Of this town Be sure to come around I'll be wallowing in sorrow Wearing a frown Like Pierrot the clown."

i.e. I'll still keep doing this, any time you come calling, pretending that the suffering is all just fun and games (like the clown) while really I'm heartbroken on the inside...

"Remember all the thing's you'd say How your promises rang hollow As you threw me into the ground."

i.e. You talked me into it by feeding me lies, and then threw me around like a rag doll for rough sex.

"When I dream , I dream your lips When I dream , I dream your kiss When I dream , I dream your fists Your fists, your fists."

i.e. the Pierrot archetype (probably Brian himself i'm guessing) is equating the BDSM stuff with love... 'fists' could either mean the BDSm breaking down into full violence ('outside of the sex game', because most BDSM practitioners don't punch in a scene), or could be a reference to fisting, which happens to the subby one A LOT...

"Leave me bleeding on the bed See you right back here tomorrow For the next round."

i.e. like the first bit again, only 'bleeding' this time either because of the BDSM stuff, or the actual violence (if it was punching and not fisting in the last bit)

My Opinion