Just a thought on the song's context: lyrically, it's both an admission by the the singer that he fooled around and hurt his woman, and a caution to young brothers to cease dogging their Nubian princesses...so, "squat that rabbit" warns the listener to stop running around in the same old unfaithful circles.
If the the listener can stop laughing long enough to puzzle it out, that is... it's that catchy, acid-house production propelling it, combined with the "squat that rabbit" old-timey uncle's voice as a counterpoint that makes this song a hilarious earworm that stands out from the rest of Taj's record. It also kinda puts me in mind of Moby's mixup of Alan Lomax's field recording on "Natural Blues (Troulbe So Hard)"...