In the song, Ray Davies describes Lola as a "showgirl" and a "pretty thing," but he also notes that she has "a voice like a man." This suggests that Lola is a transgender woman, and Ray is initially attracted to her femininity. However, as the song progresses, Ray becomes more and more confused about Lola's gender identity. He sings, "I don't know if you're a woman or a man," and he expresses his fear that he is being deceived.
Despite his confusion, Ray continues to be drawn to Lola. He sings, "I can't help but love you," and he vows to stay with her no matter what. This shows that Ray is ultimately accepting of Lola's gender identity, and he is willing to look beyond her physical appearance to see the person she truly is.
The song "Lola" is a powerful exploration of love, acceptance, and self-discovery. It is a reminder that love is not limited to gender, and that we should all be willing to accept people for who they are.