[MonBon]

Baby it's cold outside is a standard "call and answer" song. It comes off as creepy now because women are more liberated, so the idea that it's only okay to have sex if you have the appropriate excuses is outdated.

pretend it's not talking about sex and it's talking about something else she wants to do that she's afraid of people judging her for. She's giving all the arguments society will give and he's giving her counters to them.

Edit: As far as whether that's party appropriate, sex is actually a fairly common topic between adults. granted, maybe not in mixed company, but still. It was and is common enough that it's played every Christmas, along with several other songs constantly played that are clearly about sex