My little demon's comin' on down
My little demon's turnin' me around
All of my friends all telling me
That I just ain't the man I used to be

I really don't like it
Ain't nothing I can do
I really don't like it
I'm leaving it to you

My little demon's makin' me choose
Makin' me an offer I can't refuse
Hard as a rock, dry as a bone
Big dog, little dog, yeah, I will take you home

I really don't like it
Ain't nothing I can do
I really don't like it
I'm leaving it to you

Why try to hide it?
Fight it, fight it!

I really don't like it
Ain't nothing I can do
I really don't like it
I'm leaving it to you

My little demon is comin' after me
My little demon, it's all that I can do
To keep that little demon
To keep that little demon
Just to keep that little demon away from you

WEBMISTRESS speculates:

Lindsey has spoken about having demons before (see Bwana). He knows he's not perfect, he knows he has issues, but he feels like there "ain't nothing [he] could do" - but maybe the love of a good woman will fix it! Still, those demons are hard to refuse...he knows he has to "fight it, fight it!" The fight's a hard one, though, and while he's fighting it, "it's all that [he] can do" to protect his loved one from those demons that cause him to act the way he does. P.S. Did I hear that right - "Big dog, little dog, I will take you home?" Dogs as demons, maybe?

Now, there's an amusing way to interpret this song that I don't think Lindsey intended, but if you consider "little demon" a pet name for a certain part of the anatomy and look at the song in that context...well it's good for a laugh.