"Dream (Live From The Wonder Residencies)" by Shawn Mendes appears to be a love song that explores the longing and yearning for a significant other who is physically distant. The lyrics convey the desire to be with someone who is far away, and the protagonist's way of coping with the separation is by dreaming about their loved one.

In the verses, the singer expresses their anticipation to return home and be reunited with their partner. The mention of different colors (purple, red, and yellow) possibly signifies a vibrant and vivid imagination, emphasizing the longing they feel. Holding their loved one and thinking about them becomes a central focus, creating a comforting mental escape from the physical distance.

The pre-chorus suggests that when separated from their partner, the protagonist finds solace in closing their eyes and dreaming. Dreaming acts as a way to bridge the gap between them, providing a temporary respite from the longing.

The chorus further emphasizes the power of dreaming as a coping mechanism. It repeats the phrase "dream about you," underscoring the idea that dreams offer a way to be close to their loved one, even when they are physically apart. The repetition in the outro reaffirms this sentiment.

Overall, "Dream (Live From The Wonder Residencies)" evokes the bittersweet emotions of missing someone and finding comfort in dreams to temporarily fill the void. The song portrays the enduring power of love and the imaginative capacity of the mind to