The song's lyrics are about an extramarital affair that John Lennon was involved in, as hinted in the opening couplet: "I once had a girl, or should I say, she once had me".
Lirik lagu ini bercerita tentang hubungan gelap yang dijalani oleh John Lennon, seperti yang diisyaratkan di bait pertama: "I once had a girl, or should I say, she once had me".