O-U-T spells "out"
This is a children’s counting rhyme, like “eeny meanie miney mo” or “ip dip sky blue”.
Some people have taken this as an anti-war message- as in, get O-U-T of Vietnam. The hippy movement was in full swing in 1967, and the Beatles had released All You Need Is Love, but they weren’t going to start protesting the war with a disk released only to their fan club.
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