the river of doubt gave birth to a beautiful stone
and in my hands I held it and I knew I was on my own
so I picked it up and held it to the sky
and in my reflection. I knew I was all alone
then I saw this girl with the most beautiful hair
she had it wrapped around her for clothes she did not wear
I asked her for a lock and she complied, after leaving
gorgeous footsteps in the sand as if she didn’t care
she was the prettiest girl I ever saw
the stone lay still without a flaw
the feelings I had defied the law
as I came to, I went to and I took a look, a look down the road
to see a badger and a one eyed toad
they didn’t say a word, they just looked at me with that wise old look of the old
then I went to down to town
to my favorite merry-go-round
to the place where magic horses fly
and you seldom see a frown
but then I stole a ring from the flying horses
and I can’t begin to explain how
I stole a ring from the flying horses
and it’s all rusty now
I stole a ring from the flying horses
and I can’t begin to explain how
I stole a ring from the flying horses
and it’s all rusty now
You see 'cause that stone fell through my pocket
and that lock of hair flew away with the wind
If you chance to meet upon either
well you know where they’ve been
but don’t pick them up or try to find me they’re much happier to be on their own
beauty like that knows no home
and then if you take a look, a look down the road
you’ll see a badger and a one eyed toad
they won’t say a workd they’ll just look at you
with that wise look of the old
Everybody who wonders what this song is about I know the answer. In Martha’s Vineyard there is a carousel that you can go on and it’s a small bit interesting carousel because you can collect these brass rings and one of them is brass which gives you another ride on the carousel, so “I stole a ring from the flying horses” means he collected the ring off his fake horse on the cares pile