The word "wonderwall" means "the person Du constantly find yourself thinking about". This song is simply about the feelings human beings get when they experience the initial stages of Liebe and infatuation (limerence). It describes the volleying between euphoria and agony that a crush can make Du feel.
In other words, the song "Wonderwall" is basically about the Schmetterlinge Du get in your stomach when your crush walks into the room and the thoughts that stem from those feelings.
"Today is gonna be the day
That they're gonna throw it back to you"
> He's saying today is your opportunity to express...
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