Bhavayami gopalabalam....

This keerthana is one of Annamayya's sanskrit keerthanas, describing Krishna as the cowherdsman's child. The first stanza urges people to focus/meditate on His word and serve him in heart. The second describes the costume of Krishna, especially the waistband, anklets,etc. This is mostly self-explanatory keerthana with no difficult interpretations.

Here is the link to MS Subbalakshmi's redition of the song.

భావయామి గోపాలబాలం మన సేవితం తత్పదం చింతయేయం సదా

bhāvayāmi gōpālabālaṃ mana- ssēvitaṃ tatpadaṃ cintayēyaṃ sadā

Word-word:

భావయామిbhāvayāmi=let there be thoughts;  గోపాల Gopala= the cow herdsman;బాలంbālaṃ= baby,child; మనసేవితంmana-ssēvitaṃ(Mana:+sevitham)= in heart+serve తత్పదంtatpadaṃ (tat+padam)= that word; చింతయేయంcintayēyaṃ= to think; సదాsadā always

Meaning:

Think of the Cow-herdmen's child (Krishna), serve (HIM) in heart, and think His word always. 

Discussion:

The word "padam" means word while the word "paadam" means foot. Well in almost all the renditions, "padam" is sung and so I am going to take that as reference.  This line is self explanatory.


కటి ఘటిత మేఖలా ఖచిత మణిఘంటికా పటల నినదేన విభ్రాజమానం
కుటిల పద ఘటిత సంకుల శింజీతేనతం చటుల నటనా సముజ్జ్వల విలాసం
kaṭi-ghaṭita-mēkhalā khacita-maṇi-ghaṇṭikā  paṭala-ninadēna vibhrājamānam
kuṭila-pada-ghaṭita saṅkula-śiñjitēnatam  caṭula-naṭanā-samujvala-vilāsam

Word-word:
కటిkaṭi= waist/hip; ఘటితghaṭita= made; మేఖలాmēkhalā=girdle/belt; ఖచితkhacita= studded; మణి-maṇi= gems/precious stones; ఘంటికాghaṇṭikā= small bells; పటలpaṭala=forehead marked with sandal paste; నినదేనninadēna= echoed; విభ్రాజమానం vibhrājamānam= shining/splendid;
కుటిలkuṭila= curved; పాదpada= foot; ఘటితghaṭita= made; సంకులsaṅkula= crowded with; శింజీతేన తంśiñjitēnatam=tinkling sound; చటులcaṭula= sweet,lovable; నటనాnaṭanā= acts/ dance; సముజ్జ్వలsamujvala=radiant; విలాసంvilāsam= amusement/pleasure;
Meaning:
His waist has a girdle/belt studded with gems and small tinkles. His forehead with the sandal paste mark echos the splendor.His curved feet has crowded tinkles. His loveable dance/acts radiate pleasure.

నిరత కర కలిత నవనీతం బ్రహ్మాది సుర నికర భావనా శోభిత పదం
తిరువేంకటాచల స్థితం అనుపమం హరిం పరమపురుషం గోపాలబాలం … భావయామి
niratakara-kalitanavanītaṃ brahmādi- suranikara-bhāvanā-śōbhita-padam
tiruvēṅkaṭācala-sthitamanupamaṃ harim paramapuruṣaṃ gōpālabālam

 Word-word:
నిరతniratha= always; కరkara=hand; కలితkalitha= has; నవనీతంnavaneetham=butter; బ్రహ్మాదిbrahmadi(brahma+adi)= Brahma etc. సుర Sura= Dieties/Gods;నికరnikara= collection;  భావనాBhavana= expression,thoughts/meditation; శోభిత Shobhitha= adorned/embellished ,పదం Padam= word
తిరువేంకటాచల Thiru venkata Chala= Thiru vekata Hill; స్థితంsthitam= present/stays; అనుపమంAnupamam= matchless/unparalleled; హరిం harim=Hari, one who steals away sorrows; పరమ Parama= The supreme; పురుషంpurusham= man ; గోపాలబాలంgōpālabālam=Cow herdsman's child
Meaning: 
(He) always has butter in his hands;His word/feet adornes the thoughts of the Brahma and other Gods collectively. Residing on Thiru Venkata Hill, the gopala bala(cowherdsman's child) is the unparalleled Hari, the Supreme Man.

References:
[1]  Monier Williams & Apte sanskrit dicitonary: 
http://spokensanskrit.de/index.php? script=HK&beginning=0+&tinput=&trans=Translate&direction=AU
[2]Telugu lyrics from http://annamacharya-lyrics.blogspot.com
[3]http://sahityam.net/wiki/Bhavayami_gopalabalam