"This is the story of a boy named Ted, if mother said, 'Ted be good', he would."
Back in 1959 and 1960, the then-unnamed Beatles were walking around as 'Teddy Boys.' Leather jackets, slicked back hair, duck tail, swagger and spit.
Macca's song sound like Ted is a f**. I think it should have been a tribute to the Teddy Boys.
Truth be told, I like the song, too, and have included in old McCartney compilations. But, in the end, it doesn't stand up. Had it gotten a Beatle treatment with George Martin (let's face it - George Martin could take a nothing song and make it sound phoemonenal), sure it could have been magic.
However...