"Stacy's Mom" is a playful and slightly tongue-in-cheek song that offers a humorous take on adolescent infatuation. The narrator, who appears to be a teenage boy, expresses his attraction towards his friend Stacy's mom. The song begins with the narrator asking Stacy if he can come over to hang out with her after school, showing a desire to spend time with Stacy as a means to get closer to her mom. He mentions that he is no longer the little boy he used to be, implying that he now sees Stacy's mom in a different light.

The chorus, "Stacy's Mom has got it going on, she's all I want and I've waited for so long," reinforces the narrative's focus on the narrator's infatuation with Stacy's mom. The notion of waiting for so long suggests that this crush has persisted for a significant period.

Later in the song, the narrator brings up a memory of mowing Stacy's lawn, where Stacy's mom appeared in a state of undress. This risqué encounter seems to further fuel the narrator's infatuation, as he interprets Stacy's mom's actions and words as signs of her interest in him.

As the song progresses, the narrator acknowledges that his feelings for Stacy's mom may be deemed inappropriate or "wrong." However, he professes his love for her, perhaps suggesting that the intensity of young love can sometimes blur traditional boundaries.

Overall, "Stacy's Mom" presents a lighthearted and exaggerated portrayal of teenage crushes and the exploration of forbidden desires. While the song's lyrics may not be intended to be taken seriously, they provide an amusing commentary on the complex emotions experienced during adolescence.