Walking on the beaches, looking at the peaches.
The bass line is one of the most written about parts of this song. It rings out, each note blending into the next. It is also really really repetitive. Honestly I don't think it's really that great. The whole song feels really dated. It's the kind of song that gained notoriety by being rude and crude with the lyrics; and by today's standards it's not that rude or crude. The drums are as repetitive as the bass, and the guitar just adds very occasional accent. It's the same accent all song long. The organ doubles the bass for the majority of the song. Organ is not a typical punk instrument, but it even gets a solo @ 2:35 (a good one!) that lasts almost a full minute of this four minute song.
It is actually that solo, and the part immediately preceding it that makes the song still interesting. Starting at 2:20 the vocalist forces the young disaffected youth who are his most likely listening group to face the fact that their bored disinterested complaints about a dull English seaside vacation are out of place with what is happening all around. And he does it in 15 seconds. The bass actually plays something different than the rest of the song, and then we get the crazy-almost-throwback-psychedelic-era organ solo.