The singer confessed that the track was the first he had ever written when he was a child and described it as "media-savvy".
Martin told Howard Stern on his Sirius XM radio show: "[I was] 11. It was a terrible song about people being more obsessed with Sarah Ferguson's t*ts than what was really happening in the world."
He joked: "It was quite a media-savvy song! I was very socially-motivated at that age."
Asked if he would ever go solo, Martin responded: "No way. No solo thing. No way."
Coldplay's fifth studio album Mylo Xyloto topped the UK and US charts upon its release last month.
Martin recently claimed that he feels the world "f**king hates" Coldplay.
Watch the music video for Coldplay's current single 'Paradise' below: