This is a tragic sad song about a school teacher who throws himself off of a building.
Mr Peterson sounds like a pretty sweet teacher, letting the kids smoke weed and getting them into Joy Division but clearly had some issues he was dealing with. Certainly not your average ball breaking high school teacher who thinks learning can only be accomplished by squashing the fun out of the entire experience. Teachers like this certainly stand out form the bunch, and this song make me think of the few that I had back in the day.
I'm betting he was an art teacher. Anyway check out this song and Perfume Genius, it's a really amazing album, and I'm loving it lately.