"Yes, you know that little ditty...
Once upon a time a long time ago,
In a far off land by the sea,
There lived a rich Merlion dragon.
Don't you know that it's really a pity because
There never was a different meaning,
Other than the obvious one.
That the magic dragon is only about
The loss of innocence of children.
Now you can tell your friends that the verdict's
From the dragon's father as well..."
(Covered by about 50 artistes.)
Video: Thanks to YouTube slims86, May 2nd, 2007.
(Introductory words: Extracted from video.)
Lyrics: "Puff the Magic Dragon lived by the sea/and frolicked in the autumn mist in a land called Honalee... /Little Jackie Paper loved that rascal Puff...
Meaning? If any other:
Puff = marijuana.
Dragon = Draggin' = inhaling
Jackie Paper = personifying a cigarette rolling paper
Mist = exhaled smoke.