Unicorn? A cross between a unicorn and a faun.
Said the unifaun to his true love's eyes..." Here
Peter gets especially sad and tragic (and it's only the beginning of the
song!). 'Unifaun' is supposed to be a pun, a cross between 'uniform'
and 'faun' - the 'faun' brings in the mythological element, while the 'uniform'
brings in certain military associations. Patriotic lament over the fate
of one's country? Whatever it might be, the subject of the song is evident
from the beginning line: a tragic statement of Britain's current state,
a lamentation over the enormous, unbridgeable gap between the romantic
past and the corrupt present...
It's tenuous but I appreciate your thoughts and the link. I've always got the thing about the song lamenting the state of England (I'd suggest, rather than Britain - the commentator makes the common mistake of interchanging them*) but occasionally puzzled over that word. Ultimately I thought PG was indulging in creative wordplay along the same lines as Steve Miller's Joker's 'pompitous of love'.
Until recently I thought Bob Mould had done the same in his song Ego Override in which he sings "I'm a phenom" but I've since learned that is a 'proper' word.
(* He's also a bit harsh on Wimpey! But possibly just what he's been told. Personally I have fond memories of them. There's even still one hanging on in there in a town not far from me. I do like his analysis of the instrumental coda. It's also nice to see one of those basic late 90s/early 2000s sites).