It's Only a Paper Moon的詞曲作者未知，以下是歌曲的歌詞：
It's only a paper moon jumping up and down,
It's only a game you and I can play along.
It's only a song that someone played in years ago,
But it's sweet and it's funny, it's fun to go.
And it's funny to see how a little thing like a dream can come true,
It's funny to see how the time flies and soon we'll be gone.
It's only a dream and I hope it comes true,
So we'll dream and we'll dance,
It's only a game we play,
Oh, the paper moon is jumping,
And the sun is playing too.
歌曲描繪了一個紙月亮，這個紙月亮就像一個遊戲，讓人盡情玩耍。這首歌表達了對過去的美好回憶和對未來的美好祝願。