Terciopelo means "velvet," a fabric known for its distinctive softness and luxurious feel. It's a beautiful and somewhat uncommon word to hear in a song.
In this classic romantic ballad, the singer dreams of creating a perfect world, singing "Haremos con las nubes terciopelo" (We will make velvet with the clouds). This poetic line paints a vivid picture of turning something as soft and ethereal as clouds into a luxurious material, symbolizing the beautiful, idyllic life they'll build together.
This song is a beautiful and very dramatic declaration of love. The whole thing is built around one big condition: “Si nos dejan” (If they let us). The singers never say who “they” are, but it's clear someone or something is stopping them from being together. If they can just get past this obstacle, they have a whole perfect future planned out.
And what a future it is! They imagine escaping to “un rincón cerca del cielo” (a corner near the sky) where they will make the clouds into velvet. It’s a very sweet and over-the-top romantic idea. They believe that if they are just allowed to be together, they can forget everything else and live out the life “que soñamos” (that we dreamed of), close to each other and happy.