The speaker describes a relationship marked by repeated disappointment: the other person promises to visit or call, but does not follow through. Even so, the speaker says they still love and need them. The feelings move between hurt, frustration, hope, and renewed pleading, rather than reaching a clear resolution.
“Build me up” means to raise someone’s hopes or make them feel hopeful; “let me down” means to disappoint them. Together, these phrases suggest an emotional cycle: a promise creates expectation, then the promise is broken. Waiting “beside the phone” shows how focused the speaker is on hearing from the other person. Calling himself “a toy” implies that he feels treated as something to use or play with, not as an equal partner.
There is a tension between recognizing that the other person is unreliable and wanting their affection even more. The speaker asks for attention and imagines being adored, but does not say what would happen if the pattern continued. The song can be heard as a catchy, playful-sounding plea, while its words describe a more painful imbalance. It remains unclear whether the speaker is knowingly accepting this treatment or simply unable to let go.