The title “Lying is the Most Fun a Girl Can Have Without Taking Her Clothes Off” comes from the movie Closer, where Natalie Portman says: “Lying is the most fun a girl can have without taking her clothes off, but it’s better if you do.”

The movie deals with Portman, Owen, Julia Roberts, and Jude Laws characters all sleeping around, lying, cheating, and so on to one another. Jude Law publishes a book titled “The Aquarium”. Julia Roberts and Clive Owen meet in an aquarium. This song has a lot of influence from the movie.

The song seems to deal with cheating, as evidenced by the video, where everyone has fish tanks surrounding their heads. We see a girl walking down the street who notices a stray fish (representing a boy). She picks it up and puts it in her tank (representing sleeping with a boy). Her boyfriend finds out and dies. She discovers him, and does the same. The ambulance team, played by the band, puts them in the water, where they are reincarnated, never to surface again.

This, along with other songs on the album, was inspired by guitarist Ryan Ross' anger towards his girlfriend from home who had cheated on him, thereby ending their three-year relationship. He told the Guardian newspaper June 20, 2008:

At the time it felt like the world had ended. I hated everything. It affected that whole album. I guess it’s good that I wrote it down. I might have stabbed somebody.