Lyric discussion by 

This song is an admiration song that could be addressed to a friend, but what makes me think is the title of the song. It's not called 'Drag Behind' but simply 'Drag'.

So it could be that the protagonist has invented an alter ego for himself. He's a drag queen, and since he felt inferior his entire life because he was never the best at anything, he gave the one woman he portrays when he dresses in drag, all the personality traits, and abilities he wishes he had himself. 'Drag behind' means that he is the one behind all the makeup. Behind the drag persona, he is still himself.

'You're the monkey I've got on my back That tells me to shine' could refer to the inner voice that tells him that he can still shine by being a drag queen. Maybe that' the one thing he exceeds in.

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