The quote reflects a character's realization about the consequences of his priorities and desires. He uses a vivid metaphor, comparing his choices to trading something valuable for worthless gain. This indicates a sense of regret and enlightenment, suggesting that his pursuit of fleeting pleasures led him to an unfulfilling outcome.
Furthermore, the character acknowledges the danger that often accompanies his pursuits, symbolized by the "teeth" at the other end of the "tail." This portrays a deeper understanding of relationships and the risks involved in chasing superficial desires, indicating that his life choices have ultimately resulted in pain rather than satisfaction.