Lyrics:

Iggy delivers this song in a dry, monotonous tone, which indicates a sense of irony. It can also be seen as Iggy suggesting he has a rather perverse idea of having fun.
Okay?
One, two
One, two, three, four

(Fun)
Hey baby we like your lips
(Fun)
Hey baby we like your pants
All aboard for funtime

(Fun)
Hey, I feel lucky tonight
(Fun)
I'm gonna get stoned and run around
All aboard for funtime
(Fun)
Last night I was down in the lab
(Fun)
Talking to Dracula and his crew
All aboard for funtime
(Fun)
I don't need no heavy trips
(Fun)
I just do what I want to do
All aboard for funtime

We're having fun (Oooooo)
We're having fun (Aaaaaaa)
We're having fun

(Fun)
Baby baby we like your lips
(Fun)
Baby baby we like your pants
All aboard for funtime

(Fun)
Everybody we want in
(Fun)
We want some we want some
All aboard for funtime

(Fun)
Baby baby we like your lips
(Fun)
Baby baby we like your pants
All aboard for funtime

Uuuuuuuaaaaaaaaaaaaaaaaaaa
Uuuuuuuwoah
Uuuuuuueeeeah
Uuuuuuuoh
Uuuuuuuoh
Uuuuuuuoh
UuuuuuuOH