They spent some time in the Virgin Islands playing at a club on a street called Creeque Alley, providing the name of this song. While the song is about the formation of the group, it mentions other artists who were getting their starts at the same time - Sebastian is John Sebastian, who, with Zal Yanovsky (also mentioned in the song), formed the Lovin' Spoonful. "McGuinn and McGuire, couldn't get no higher..." - Roger McGuinn was the lead singer for the Byrds, who were also starting to take flight at the time, having two #1 songs in 1965 : "Mr. Tambourine Man" and "Turn, Turn, Turn". Barry McGuire had a #1 in 1965 with the anti-war song "Eve Of Destruction." ... In other words, at #1 they "Couldn't get no higher."