Lyric discussion by mandolinloser 

George Harrison wrote this in his autobigraphy 'I Me Mine'; "While writing the words we got to the middle part which I call the 'bridge', so I put that on the paper with the words. Eric was sitting opposite me and he looked at the paper - upside down to him - and cracked up: he said 'what's that - badge?' and I said 'it's bridge'. So later Eric called the song Badge. It's funny, now he actually sings in concert at the end of the song 'Where is my badge?'."

He goes on to say that Ringo (drunkenly) contributed about the swans in the park.

That's how i understand it.

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