This song is an instrumental and no lyrics were ever written for it.
"Initially the very notion of instrumentals was motivated by me. I suggested that 'Oscillate Wildly' should be an instrumental; up until that point Johnny had very little interest in non-vocal tracks. There was never any political heave-hoing about should we-shouldn't we have an instrumental and it was never a battle of powers between Johnny and myself. The very assumption that a Smiths instrumental track left Morrissey upstairs in his bedroom stamping his feet and kicking the furniture was untrue! I totally approved but, obviously, I didn't physically contribute."