The lyrics were written by Thom Yorke, who was on a train filled with obnoxious drunk rich boys, which is shown in the line, "City boys in first class... someone else is gonna come and clean it up."
The line "Flan in the face" is a reference to Clare Short, the UK overseas aid/development secretary who was once assaulted with a custard pie by anti-globalization activists and who later resigned Tony Blair's cabinet over the Iraq War.
The "Wolf" title and reference to Three Little Pigs has been seen as one of many fairy tale metaphors on the album, inspired by Yorke's status as a new father. Apparently, Yorke felt the lyrics were too bleak to use, until guitarist Jonny Greenwood came up with the jaunty, angular backing music.
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