In 1993, I can tell you that I thought the Flaming Lips were a fun novelty band that wouldn't endure. Especially on the strength of this song, which to this day remains the bands biggest radio hit, if not their most recognizable song anymore.
Boy, was I wrong. Led by Wayne Coyne, the Lips have proven to be an interesting and inventive band who really respects, honors, and relishes its loyal fans. Plus, the band is chock-full of excellent musicians who have all contributed both to the Flaming Lips catalog and other artists who might have once palled around with a blue dog.
Lyrically, this song is goofy. Musically - it's catchy and uplifting and fun and rich.
If you doubted me in how much the band respects their fans, this 2013 performance of the song, which is highly interactive, should illustrate that. There are fans on stage. They are playing with the crowd, who are singing along.