Possessive noun, noun, verb. Got it. Took a bit of parsing, though.
Too many combinations to go through to find the pun.
“I am the wrapping scissors and I am here to say
Use me to cut the paper for that special day
Put your hands inside me, nice and tight
It is nothing sexual, if you do things right
Don’t mess with me, don’t run around
Else you be cutting yourself as you fall to d’ ground
Sharp cutting is what I am known to do
But don’t get me mad, or I’ll be cutting YOU!”
It confused me for a bit, until I noticed the apostrophe, and then there was only one way it made sense.