besides that has nothing to do with this song at all, which is great by the way ( i hummed the chorus last nite while i was trying to get to sleep)
i dont know if it was said anywhere but it MEANS lazy person regardless of skin color...
just like fagot...
you know what a fagot(or faggot) is?
ita a bundle of sticks or branches, as used for fuel
OR pieces of wrought iron or steel to be worked into bars...
just do a bit of research before posting