I don't see Quinn posted here, so here are the lyrics.

QUINN THE ESKIMO (The Mighty Quinn)
(Bob Dylan)

Ev’rybody’s building the big ships and the boats
Some are building monuments
Others, jotting down notes
Ev’rybody’s in despair
Ev’ry girl and boy
But when Quinn the Eskimo gets here
Ev’rybody’s gonna jump for joy

Come all without, come all within
You’ll not see nothing like the mighty Quinn

I like to do just like the rest, I like my sugar sweet
But guarding fumes and making haste
It ain’t my cup of meat
Ev’rybody’s ’neath the trees
Feeding pigeons on a limb
But when Quinn the Eskimo gets here
All the pigeons gonna run to him

Come all without, come all within
You’ll not see nothing like the mighty Quinn

A cat’s meow and a cow’s moo, I can recite ’em all
Just tell me where it hurts yuh, honey
And I’ll tell you who to call
Nobody can get no sleep
There’s someone on ev’ryone’s toes
But when Quinn the Eskimo gets here
Ev’rybody’s gonna wanna doze

Come all without, come all within
You’ll not see nothing like the mighty Quinn


Copyright © 1968 by Dwarf Music; renewed 1996 by Dwarf Music

I've always thought of "Quinn" as an upbeat, optimistic song. Don't see any reason to think of Quinn as a drug dealer, but it's clear that Velvet Underground is referring to a drug dealer in "Waiting for the Man."

Here's the Wikipedia article: https://en.wikipedia.org/wiki/Quinn_the_Eskimo_(Mighty_Quinn)