You consider me the young apprentice
Caught between the Scylla and Charibdes
Hypnotized by you if I should linger
Staring at the ring around your finger
I have only come here seeking knowledge
Things they would not teach me of in college
I can see the destiny you sold
Turn into a shining band of gold

I'll be wrapped around your finger
I'll be wrapped around your finger

Mephistopheles is not your name
I know what you're up to just the same
I will listen hard to your tuition
You will see it come to it's fruition

I'll be wrapped around your finger
I'll be wrapped around your finger

Devil and the deep blue sea behind me
Vanish in the air you'll never find me
I will turn your face to alabaster
When you find your servant is your master

Oh, you'll be wrapped around my finger
You'll be wrapped around my finger
You'll be wrapped around my finger

Scylla and Charybdis were mythical sea monsters noted by Homer; later Greek tradition sited them on opposite sides of the Strait of Messina between Sicily and the Italian mainland. Scylla was rationalized as a rock shoal (described as a six-headed sea monster) on the Italian side of the strait and Charybdis was a whirlpool off the coast of Sicily. They were regarded as a sea hazard located close enough to each other that they posed an inescapable threat to passing sailors; avoiding Charybdis meant passing too close to Scylla and vice versa. According to Homer, Odysseus was forced to choose which monster to confront while passing through the strait; he opted to pass by Scylla and lose only a few sailors, rather than risk the loss of his entire ship in the whirlpool.

If you are stuck, the best choice is to tackle the rock.

I always thought Sting said "Caught between the silver and caresses".
I thought it was about an older well-to-do married woman and a younger college guy.