In the first of many two part songs, Abel describes a drug induced party scene, most likely going on in his former house on 65 Spencer, which was one of the many influences for House of Balloons. In an interview with Rolling Stone, Abel shared the party experience that he and his crew had, (which additionally explains the title of the album and song) saying:

We’d throw these shitty parties and have girls over, and we’d try to make it celebratory, so we’d have balloons

The second part of the song, “Glass Table Girls,” hones in on the particular drug activity they had at those parties.

The track samples the 1980 song “Happy House” by Siouxsie and the Banshees.