what's the meaning of context?

I was watching CNN 10 on December 18, and there is one context which I don’t really get.

At the end of the video,

Forget the "halls" ya’ll. It’s time to "deck the cars".
Where there’s a "wheel", there’s ways to win the "holiday light wars".
Clark Griswald’s bright idea made a house all that it can be but Tyler’s (ph) car can make the neighbors "red and green" with envy.
See, haters want to cover it.
They can’t get "camaroover" it.
Admirers "allover" it.
There smiles "hover" over it.
He’s "strings" along a colorful "carful" of Christmas cheer
and hopes he doesn’t see "blue lights" behind again this year.

It’s a kind of rap, and I think this is kind of playing with words.
Could you give me a little help, so I can understand the context?