Spoken like a lullaby, the poem is a reassurance from one voice to a frightened child. The refrain "Do not fear, for I am right here" comes back again and again, and its repetition does the work of a soothing hand: the speaker says the same calm words until they sink in. The "monster" is described as gone, and the speaker insists that light is stronger than darkness. We aren't told who the monster is or what he did, only that he can no longer take "given life" or hurt the child. The poem leaves that danger vague, and the judging-by-the-text feeling is that the child has been through something frightening.
Now the speaker wants the child to enjoy ordinary things: the breeze, hair blowing in the wind, a smile, bright eyes. The ending is tender. The speaker asks the child to pause, listen, and remember "I love you, my dear." The mood is warm, protective, and quietly hopeful, with a simple rhyme and plain wording that suit its comforting purpose.