http://www.lyricsfreak.com/k/kinks/lola_20079021.html
“Lola” is a song that was written by Ray Davies and performed by The Kinks in 1970. It talks about a situation Ray, the main character encountered in a night club with a “transvestite”. He does not have any experience with women. The opening line of champagne tasting like Coca-Cola shows how he does not have any experience in the world so he relates the taste of champagne to soda because that is his reference point. He then proceeds to lose his innocence when he meets a city woman who has experience picking up men. It was his first time a woman approached him and also wanted to kiss him. The roles of men and women are reversed in the song. It’s usually the guy who tries to seduce the woman. In this song it’s the woman seducing the guy.
“She walked up to me and she asked me to dance”, the woman is taking on the man’s role by asking Ray to dance.
“She walked like a woman and talked like a man”. This shows that Lola appears like a woman but has a deep voice that makes her sound like man. This does not necessarily means that she is a man. It could just refer to the confidence that Lola showed.
All the other references included in the song were about Lola displaying the characteristics of a man because she’s experienced and is seducing the man. Women do not typically do that. I think Ray had fun with this because he was able to have it both ways. The implication that Lola could be a man is obviously on the surface of it. People might claim that the last line reveals Lola’s identity as a transsexual. It doesn’t actually.
“I know what I am and I’m glad I’m a man and so is Lola”. Is Lola really a man or is Lola also glad that Ray is a man? The song does not commit to a meaning and Ray created it with multiple meanings. In other words Lola is either glad or a man and this makes it look like Ray intended it that way. If the narrator/writer of the song intended to have two meanings then one cannot say it absolutely has to be one or the other. I noticed that Lo in Spanish means masculine and La means feminine. The two words combined might just show that Lola in fact is a man who dresses like a woman. Because it was his first experience, Ray did not care much about how she looked. he fell for her every time they look at each others in the eyes.