Marcy Playground made a name for themselves with this fantastic song. I’ve been living under a rock and only found it recently.
The meaning is quite simple: the vocal was having wild sex with his girlfriend. After they finished shaking they were enjoying the 8th world wonder - the after cig 
When her room mate enetered and said it’s smelling like sex and candy. He immediately thought he must do a song with this name!
Marcy Playground - Sex and Candy Lyrics
Hangin round downtown by myself
And I had so much time
To sit and think
About myself
And then there she was
Like double cherry pie
Yeah there she was
Like disco superfly
I smell sex and
Candy here
Whos that lounging
In my chair
Whos that casting
Devious stares
In my direction
Mama this surely
Is a dream
Hangin round downtown by myself
And I had too
Much caffeine
And I was thinkin
bout myself
And then there she was
In platform double suede
Yeah there she was
Like disco lemonade
I smell sex and
Candy here
Whos that lounging
In my chair
Whos that casting
Devious stares
In my direction
Mama this surely
Is a dream
Mama this surely
Is a dream
Yeah mama this must
Be my dream