Shining Star
The Noll Brothers Lyrics

I've got a theory that it's a demon! A dancing demon? No something isn't right there.
Giles has a theory that the problem they are facing is caused by a demon, but his partner's response makes him doubt his theory.

I've got a theory some kid is dreaming, and we're all stuck inside his wacky broad way nightmare.
Willow thinks that the situation they are in is too bizarre and illogical to be real and is probably a dream.

I've got a theory we should work this out.
Xander believes that it is important to find a solution to the problem they are facing.

It's getting eerie what's this cheery singing all about?
The cheerful singing and dancing that they are witnessing is making the group uncomfortable and they find it strange.

It could be witches, some evil witches! Which is ridiculous 'cause witches they were persecuted. Wicca good and love the earth and women power and I'll be over here.
Xander thinks that the situation may be caused by witches, but he feels uncomfortable accusing them due to the unfair persecution they have experienced in the past.

I've got a theory, it could be bunnies!
Anya suspects that the problem is caused by bunnies, but her idea is met with skepticism.

Bunnies aren't just cute like everyone supposes. They got them hoppy legs and twitchy little noses, and what's with all the carrots!? What do they need such good eyesight for anyway!? Bunnies, bunnies, it must be bunnies!! Or maybe midgets…
Anya continues to defend her theory that bunnies are the cause of the problem, pointing out their unusual characteristics and behavior.

I've got a theory we should work this fast
Willow believes that they should find a solution to the problem quickly before it gets worse.

Because it clearly could get serious before it's passed.
If they do not find a solution soon, the problem could escalate and become more dangerous.

I've got a theory, it doesn't matter. What can't we face if we're together? What's in this place that we can't weather. Apocalypse? We've all been there. The same old trips, why should we care?
Buffy suggests that it doesn't matter what has caused the problem because they are strong enough to face any challenge together, including apocalyptic events.

What can't we do if we get in it. We'll work it through within a minute. We have to try, we'll pay the price. It's do or die.
The group acknowledges the seriousness of the situation and the fact that they need to act fast and be willing to make sacrifices to find a solution.

Hey I've died twice.
Buffy reminds the group that she has faced death and has come back stronger, indicating that they are resilient and can overcome anything.

What can't we face if we're together.
The group reaffirms that they are capable of facing any challenge as long as they stick together and support each other.

What's in this place that we can't weather?
The group wonders what kind of challenge they are facing that they cannot overcome through their teamwork and resilience.

If we're together
Giles emphasizes the importance of the group working together in order to overcome whatever problem they are facing.

There's nothing we can't face
The group is confident that as long as they stick together and support one another, there is no challenge that they cannot overcome.

Except for bunnies...
Anya sarcastically acknowledges that bunnies might still be a challenge they cannot handle, despite their other strengths.