Teddy Bears picnic is a pedo code. I started looking in to this and everywhere you find references to that song you have pedo innuendo all over it. This movie is full of it from 1989 with sick references all over it, including a ping pong type paddle at the beginning. https://youtu.be/cUkqjsINb1Y

Also this scene from Fear and Loathing has the song and a pizza sign. Also seems to be referencing rape of some kind involving drugs. https://youtu.be/FJlVB8kL6xg

Ashton Kutcher satisfies big bear. https://youtu.be/_OvoNB-NIoE

More references in the wiki. https://en.m.wikipedia.org/wiki/Teddy_Bears%27_Picnic

The song is thought to be plagiarized from a tune called 'Death or Glory March'