It is a ballad from Act II of the musical in which the character of Desiree reflects back on the ironies and disappointments of her life. Amongst other things she looks back on an affair that she had years earlier with a lawyer of the name of Fredrik. Meeting up with him again after so long, she discovers he is in an unconsummated marriage with a much younger woman and proposes marriage to rescue him from the situation but he declines in favour of remaining dedicated to his bride. The song is a reaction to his rejection. The song is then later reprised when Fredrik’s young wife runs away with his son and Fredrik is finally available to accept Desiree’s proposal.
Isn't it rich? Are we a pair?
Me here at last on the ground and you in mid-air
Send in the clowns Isn't it bliss?
Don't you approve?
One who keeps tearing around and one who can't move
But where are the clowns?
Send in the clowns Just when I stopped opening doors
Finally finding the one that I wanted was yours
Making my entrance again with my usual flair
Sure of my lines Nobody's there Don't you love a farce?
My fault, I fear I thought that you'd want what I want, sorry my dear
But where are the clowns? Send in the clowns
Don't bother they're here Isn't it rich? Isn't it queer?
Losing my timing this late in my career
But where are the clowns? Send in the clowns
Well, maybe next year