Lyric discussion by ChibiFangirl 

I think this is a song about the book, Lord of the Flies. (Don't read this comment if you haven't read the book becuase there are spoilers ahead!)

In the middle of the book, Simon begins loosing his mind, believing that a pig head on a stick, "The Lord of the Flies" is talking to him. Once he comes to the realization that the beast is in all the main characters, he is killed in a rtual.

Listening to the flies is what Simon does for about three chapters. The prize in this song could refer to the boys escaping the island. Also the idol in the song could refer to both the pig head AND the conch of authority.

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