Lyrics:

Like Many TMBG songs the direct meaning can be debated. This one seems to be one of the more simple cases however. This is a song about a night-light, from the night-light’s point of view.
I'm your only friend
I'm not your only friend
But I'm a little glowing friend
But really I'm not actually your friend
But I am

Blue canary in the outlet by the light switch
Who watches over you
Make a little birdhouse in your soul
Not to put too fine a point on it
Say I'm the only bee in your bonnet
Make a little birdhouse in your soul

I have a secret to tell
From my electrical well
It's a simple message and I'm
Leaving out the whistles and bells
So the room must listen to me
Filibuster vigilantly
My name is blue canary
One note spelled l-i-t-e
My story's infinite
Like the Longines Symphonette
It doesn't rest

Blue canary in the outlet by the light switch
Who watches over you
Make a little birdhouse in your soul
Not to put too fine a point on it
Say I'm the only bee in your bonnet
Make a little birdhouse in your soul

I'm your only friend
I'm not your only friend
But I'm a little glowing friend
But really I'm not actually your friend
But I am

There's a picture opposite me
Of my primitive ancestry
Which stood on rocky shores
And kept the beaches shipwreck-free
Though I respect that a lot
I'd be fired if that were my job
After killing Jason off
And countless screaming Argonauts
Blue bird of friendliness
Like guardian angels it's
Always near

Blue canary in the outlet by the light switch
Who watches over you
Make a little birdhouse in your soul
Not to put too fine a point on it
Say I'm the only bee in your bonnet
Make a little birdhouse in your soul
While you're at it
Keep the nightlight on inside
The birdhouse in your soul
Not to put too fine a point on it
Say I'm the only bee in your bonnet
Make a little birdhouse in your soul
While you're at it
Keep the nightlight on inside
The birdhouse in your soul
(Blue canary in the outlet by the light switch
Who watches over you
Make a little birdhouse in your soul)
Make a little birdhouse in your soul
While you're at it
Keep the nightlight on inside
The birdhouse in your soul
Not to put too fine a point on it
Say I'm the only bee in your bonnet
Make a little birdhouse in your soul