Diclaimer: I do not own the Wizard or his friends.
In the first couple of lines, he's just getting his thoughts in order

Brand New Day

It's a brand new day I'm just starting to realize everything, there's much to learn…

Stuffed with hope the little munchkins made
A figure out of sack cloth and filled it with hay

So here I stand alive
Perpetually staring
Trying to scare crows
Who aren't caring

I'm not the brightest
Pencil in the box
My head is merely
Filled with rocks

If they pieced me together
Without even a thought
So I'll see if I can create
Something off the top…

I think I'm free of
The munchkin games
As I start my adventure
Down the yellow lane

The Wizard tells me
More than I can dream.
I've had my brains all
Along, as perfect as it seems…

There's much more to learn
As I adopt the throne
To call the Emerald
City my new home.

Even though I am
Now the true King
I sit on my throne and
I don't feel a thing.