He sings to his jet-lagged baby girl (he and his family live in London but hail from Australia) that she'll won't understand, but with the family she'll be handed round like a puppy at a primary school, and she'll come to understand one day that these are the people who make her feel safe.
This song is incredibly sweet and still manages to be funny occasionally. If your parents did it right, you'll be yearning to spend Christmas with them. My parents did it right, and I had a lovely time with Mom and Dad. I hope your Christmas was as warm and happy as mine was. :)