“Do you know what it feels like loving someone that’s in a rush to throw you away?”
So I guess it’s about loving someone who doesn’t love you back. And at the end it says “Do you know? Do you know? Do you know? Do ya?”
The reason they call it the ‘Ping Pong Song’ is that at the beginning of the song it’s a ping pong ball, and the manager and music producers asked Enrique if they could call it that as a sub-title as that’s what they referred it as when making it.
Hope that’s helped. 🙂