This song tells the story of a man who holds his breath, a monkey who goes to the city, and a fish who jumps out of the water. In each case, the results are disastrous, and the message seems to be that you should be happy with who you are.
Who writes a song about a name they found in a phone book? That's just one of the everyday things these guys find to sing about. Anything in their field of vision or general scope of knowledge is fair game. If you cross paths with them, so are you.