EXCLUSIVE

The controversy is centered around the hook of the song -- in which it SOUNDS like Miley's saying, "We like to party/ Dancing with Molly/ Doing whatever we want.”
Unhip Old Person Translation: "Dancing with Molly" is slang for partying on ecstasy.
But a rep for the song's producer Mike WiLL Made It tells TMZ ... the whole thing is a giant misunderstanding because what Cyrus is REALLY singing is ... "Dancing with MILEY."
As for the lyric about people "trying to get a line in the bathroom" ... the rep wouldn't say if Miley was talking about cocaine ... but HELLO?!?!?!?