The song is a humorous and optimistic look at a failing relationship. One partner focuses on how different the two people are and how they aren't going to last as a couple:
"You say that we've got nothing in common
No common ground to start from
And we're falling apart"
The other partner, however, focuses on one small detail they have in common which is that they both like the movie Breakfast at Tiffany's
. The speaker clings to this one detail and repeats it five times as the chorus in the song:
"And I said, What about Breakfast at Tiffany's
She said, I think I remember the film
and as I recall, I think, we both kinda liked it.
And I said, "Well, that's one thing we got."