Lyric discussion by 18skeltor 

Stella was a diver, and she was always down cough always down cough

I know it's probably about alcoholism, and it's definitely not about about f*ing drowning, but I always thought that it was about a prostitute.

"But she once fell through the street Down a manhole in that bad way"

Lol... Innuendo.

"She was all right, yeah, the sea was so tight, airtight"

Yeah... so tight, huh?

"At the bottom of the ocean she dwells At the bottom of the ocean she dwells From crevices caressed by fingers And fat blue serpent swells Stella, Stella, oh Stella Stella I love you, Stella I love you, Stella I love you"

First two lines meaning that prostitution is usually perceived as the bottom in terms of your direction in life, and it's considered morally low... Also, she could be depressed.

Next two lines are OBVIOUS innuendos

And the next two lines are those said by the man she's having sex with.

"Well, she was my catatonic sex toy, love-joy diver Well, she was my catatonic sex toy, love drug diver She went down, down, down there into the sea, Yeah, she went down, down, down there Down there for me, right on

So good, oh yeah, right on"

First two lines are pretty clear.

Next two, SHE WENT DOWN INTO THE SEA. DOWN THERE FOR ME. I think we know what that means. She was giving head. "Right on"

That pretty much sums it up.

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