Your sweet phalanges
Know how to squeeze
Phalanges, or phalanx bones are the bones that form the structure of your fingers and toes. In your hand, these bones are between your knuckles, and in your fingertips.
When the song is interpreted as a song about heroin addiction the squeeze refers to the speed which is used when shooting heroin. People who do heroin often try to get the most satisfying feeling when shooting it, whether that is the least pain possible or an intense long pain.
(A left hand, the red, blue, and green bones are phalanges.)
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