Hi Manders,
What's the rest of the verse with the "shady so cold" part? I don't remember it.

I'm not sure there's really much 'meaning' in the song. Seems like it was probably done around the same time that groups were making songs with a girlname and a batch of floating verses.
Ida Red, Katy Daly, Sadie, Sophronie, Pearl, etc.