Goons, goblins and creatures and monsters are bouncing
And beat ya and stomp ya and eat ya, don't get swallowed by the block
Royce is comparing creatures generally reserved for horror movies as the people who make up life on the streets. You would no sooner get attacked by one of these creatures than you would fuck around with somebody on the wrong block.
To help improve the meaning of these lyrics, visit "Dinner Time" by Royce Da 5'9" (Ft. Busta Rhymes) Lyrics and leave a comment on the lyrics box