Sarah from Madison, Wii thought this song was about one of his old girlfriends who wanted revenge and got into playboy magazine. "now everyone can gaze upon your body" and "all that naked skin as sweet as honey" makes it pretty obvious to me. he talks about how she has completely changed from when he once knew her "its not really you i see when i look real close"
"Sloop John B" is a traditional West Indian folk song, and it was a huge hit for The Beach Boys in 1966. They tweaked the lyric, "This is the worst trip since I've been born" to "...I've ever been on" as a wink to acid culture.