The title of this song is a reference to the soap opera As the World Turns, where characters have to deal with most of the trials and tribulations Shady is talking about. This track follows a skit on the album called “Soap” to establish the soap opera reference.

On this track, Eminem appears entirely as Slim Shady, an alias which represents the dark and impulsive side of his personality. At the end of the first verse, the evil finally “transforms him” into Shady, losing all impulse control. He then continues to terrorize various women throughout the song.
Possibly inspired by N.W.A’s “Fat Girl.”