Lyric discussion by Lanta 

I might be wrong, but I think the lyrics of this song refer to Thom's increasing sense (post- OKC mega-success) that he is somehow a fraud - albeit, a scarily influential fraud.

The line "we've got heads on sticks" refers to Radiohead suddenly being perceived as "the voice of a generation" (or similarly, as mere puppets/talking heads of the music industry) - while the line "you've got ventriloquists" accuses the music media of putting words in Thom's (and the other band members' mouths) in order to cement an image of him as a melancholic (possibly doomed) prophet of rock - ie: the next Kurt Cobain.

In the song, Thom himself recognises that this is a false image, built on the (mis)interpretation of his lyrics/personality and the band's collective intent.

In the darkly humorous (or ominous, depending on your take) last line, Thom cajoles the "rats and the children" to follow him out of town ("c'mon kids"), aware that many people (music journos, fans?) may eventually feel as if they'd been lead astray or deceived by the band they'd previously seen as the "saviours of rock" when they encounter the new musical direction taken on Kid A, the album.

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