It doesn't even rhyme, it's just a guy telling a whole story about losing and finding his "detachable penis" with people chanting "detachable penis" in the background.
If you don't believe me just look at these lyrics.
Even though sometimes it's a pain in the ass... I like having a detachable penis.
1. A sexual act; only able to be performed in total darkness.
The male penetrates the female's vagina with an object that resembles a penis (dildo, cucumber, banana, etc.); while doing so, the male makes loud and convincing "grunts" and "moans."
Within minutes, the male then suddenly falls out of the bed and "screams," leaving the penis-like object inside of the female.
When performed correctly, the female will panic, scream, and in some occasions faint, thinking the male's penis has "fallen off."
2. A male who has leprosy, and whose penis can literally detach.
2. "Jesus Christ!" <runs from the bedroom>