It's clear what the song is about: he's comparing the toy bear and the girl he loves as they're both things that make people happy but they can't have.
This is a beautiful and tragic song. Doin' Alright was good, but if Queen was going to rerecord a Smile song for an album it should've either been this one or Earth (and they actually did a couple takes of this song in studio during the recording for their first album but I really can't enjoy the recording because Freddie ad-libbed half the lyrics and it loses a lot of its meaning that way).
It's clear what the song is about: he's comparing the toy bear and the girl he loves as they're both things that make people happy but they can't have.
This is a beautiful and tragic song. Doin' Alright was good, but if Queen was going to rerecord a Smile song for an album it should've either been this one or Earth (and they actually did a couple takes of this song in studio during the recording for their first album but I really can't enjoy the recording because Freddie ad-libbed half the lyrics and it loses a lot of its meaning that way).