You keep using that word. I do not think it means what you think. It means, "I'm not wearing any pants."
Chorus
We all live in a Yellow Submarine etc. etc.
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
I'm not wearing any pants
"But he's not wearing any pants!" a little child said.
And we all know what happened then, don't we, children?
Gollum: Not fair, my precious! It hasn't got any pocketses! It isn't wearing any pants!
Joy to the world! the Lord is come;
Let earth receive her King;
Let every heart prepare him room,
Not wearing any pants
Not wearing any
Not wearing any pants
paaaaaaants, Not wearing any
Not wearing, not wear-air-airing any pants
paaaaaaants, not wear-air-airing pants, pants, pants