This song is about a couple who have lost romantic interest in each other, but still get together for casual sex, which is fulfilling only on a superficial level.
The title contains no vowels and looks like a text message, indicating the shallow relationship. Fall Out Boy dropped the vowels as a joke when their record company requested shorter song titles.
The line, "He tastes like you, only sweeter" comes from the 2004 movie Closer. Panic At The Disco, who were signed to Fall Out Boy bass player Pete Wentz' Decaydance record label, used references to Closer in 2 of their songs: "But It's Better If You Do" and "Lying Is The Most Fun A Girl Can Have Without Taking Her Clothes Off."
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