I think all of these interpretations have been missing the cultural context. Of Monsters and Men is from Iceland, a nation with a strong belief in the fey folk and the creatures of the night. Their relationship with these beings is less antagonistic than their European counterparts, and belief in their existence is very widespread.
With this in mind, the meaning of the song becomes clear; it's about a couple of kids hearing the song of the fairy folk, and running up to their mountain lair to party with them, before noticing the scars of their long lives and realizing "That we were nothing like the rest". The verse is told from the perspective of the youths, and the chorus is the fey folk ("We sleep until the sun goes down/Through the woods we ran).
I think all of these interpretations have been missing the cultural context. Of Monsters and Men is from Iceland, a nation with a strong belief in the fey folk and the creatures of the night. Their relationship with these beings is less antagonistic than their European counterparts, and belief in their existence is very widespread.
With this in mind, the meaning of the song becomes clear; it's about a couple of kids hearing the song of the fairy folk, and running up to their mountain lair to party with them, before noticing the scars of their long lives and realizing "That we were nothing like the rest". The verse is told from the perspective of the youths, and the chorus is the fey folk ("We sleep until the sun goes down/Through the woods we ran).