I swear I've got three lives
Balanced on my head like steak knives
Balancing steak knives on your head is very challenging, which is why Frank used that comparison. He’s having a hard time balancing all of these “lives.”
Frank is referring to the fact that he is one of three sexualities and is not sure yet. He is either Bisexual, Straight or Gay, which each lead to a different life. In the end, whichever one he picks will make people mad/happy. The slightest phrase/movement can kill his career in the eyes of certain fans, just like the slightest movement can push over the steak knife and make it cut through his head. Think about it like a game of Russian Roulette, the slightest mistake can end your life. He wants to say the truth, but it won’t be okay in the eyes of some ignorant people.
In double meaning, it could also be referring to a three-headed demon. It seems that he believes he is looked at as basically a demon for his sexuality (that he is a sinner), and he doesn’t know how to deal with it.
Frank might also be referrign to his three fold life: sexuality, Celebrity, and private life. When this song was recorded he still had not written his famous blog post, hence his ‘disguise.’
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