Apparently "cherry chapstick" has two very different meanings. One being actual cherry-flavored chapstick, and the other being something that I'll let Urban Dictionary tell you about. I used to jam to this song when I was eleven, so I was not ready for this revelation. 

THIS SONG IS SO MUCH MORE DIRTY THAN I EVER COULD HAVE IMAGINED. IT'S SO SEXUAL NOT ALL CUTE AND CHERRY CHAPSTICKY!!! Katy Perry you have shocked me on a level I didn't even know possible. I'm just going to sit here, watch the video, and pretend my whole life isn't a lie.