Reading about puff the magic dragon, the song is actually about:
"... a loss of innocence and having to face an adult world ... I find the fact that people interpret it as a drug song annoying. It would be insidious to propagandize about drugs in a song for little kids."
"I can assure you, it's a song about innocence lost ... What kind of mean-spirited SOB would write a children's song with a covert drug message?"
By coincidence there on the right in a popular videos add is.. miley cyrus...