My Wife's Home Town Lyrics
I just came here to hear the drop of cymbaline
There ain't no way you can put me down
I just wanna say that hell's my wife's home town
I can't think of any just now, but I know they exist
I'm sittin in the sun 'till my skin turns brown
I just wanna say that hell's my wife's home town
Home town, home town
Give you the hives, make you lose your job
Make things bad, she can make things worse
She got stuff more potent than a gypsy curse
I'm pretty sure she'll make me kill someone
I'm going inside, roll the shutters down
I just wanna say that hell's my wife's home town
I still can remember the day we met
I lost my reasons a long ago
My love for her is all I know
Don't be lookin' at me with that evil eye
Keep on walking, don't be hanging around
I'm tellin you again that hell's my wife's home town
Home town, home town

A bit silly and funny? Well, yes, if you aren't aware of it's meaning. I believe it is a pointer to where Bob's convictions lie.
If you watch the 60 mins interview you can see him claim to have made a "bargain" with someone or something a long time ago to get him to where he is today. The "chief commander of this world and the world we can't see". He is initiated into the occult world of the Freemasons. I believe around the time of "Another side of Bob Dylan", either shortly before or shortly after he was scouted out by the PTB as a potential threat to their agenda. His next album "Bringing it all Back home" has a much more esoteric and abstract theme to it. The songs on that he refers to as magical.
A recent video by Lil Wayne portrays him being initiated by a beautiful woman. The beautiful woman is a symbol of what the Devil has to offer as very appealing. Vis a vis, Hell's My Wife's Hometown.
Bob still retains much control over his creative output. Nevertheless he is still tied by the bargain he made in his past. Whoever or whatever he made that bargain with he refers to as his wife in this song. Lucifer.
So, he is being honest to anyone with ears to hear. Hell's his Wife's Hometown. Believe it or not.

Is it just me or does anybody else find this song a bit silly and funny?

Song about divorce, quite simple. I love how he phrases though, as always it is the key to understanding the song.