This song is from Mitski’s 2018 album ‘Be the Cowboy’. The narrator has been through an extremely toxic relationship. Now that they are in a relationship with someone better, they are uneasy in such a calm relationship. They have trouble being touched or talking about their past. Even though they are much better off in their new relationship, they still hold on to their “pearl”. The pearl is like the memories of their past relationship. The pearl, despite being bad for them to hold onto, seems beautiful to them.