The speaker is an older man who is past his physical prime but desires to be perceived as young. He willingly participates in a mutual deception with his beloved, outwardly performing the role of an uneducated youth who believes her flattery. Despite this performance of innocence, he is highly educated and understands the complex mechanics of language, using double negatives and literal puns to analyze his relationship.

The Dark Lady is the unnamed romantic partner of the speaker, noted in the broader sequence for her dark hair, eyes, and skin. She actively flatters the speaker by pretending he is younger and less experienced than his actual years reflect. Her white lies regarding his age establish a private reality that allows both partners to ignore their personal faults and maintain their physical connection.