What a crazy song!!
So in Germany -- the Fiddler -- is their name for the reaper, the Grim Reaper as we call him here. The song is about one of the members who watched a little boy get hit and killed by a car one day in his neighborhood while he was walking his dog. A week later a little girl gets hit and killed in the same spot.
The fiddler takes them both away to a paradise to be together forever. They were to be man and wife in life and now they will be together in the after-life. Something like that. Really cool and emotional song.
http://www.metrolyrics.com/fiddler-on-the-green-lyrics-demons-wizards.html