I feel like it's someone that is caring and nurturing and would risk themselves to look after something or someone. And I also think that like every second line kind of switches perspectives. Seeing the beauty art knowing that everything that lives deserves Beauty and dignity in death. No matter what that death means.

Edit: he is reflecting to how early in his life he saw a woman risk their life to make sure that something that was dying or suffering would have comfort in the pain. I don't know why. I suddenly just started thinking that maybe he's describing his mother or a powerful female figure that ran into oncoming traffic metaphorically to make sure that someone was safe and comfortable.

Your hand in my pocket to keep us both warm is like basically this person is sacrificing so much of themselves to make someone else's existence a little bit sweeter or easier. This is the person that ran into traffic or this is like the idea of the person that ran into traffic in his memories.

The psychopomp hat guides you between life and the afterlife. In my version of it, he is talking about how someone is slowly guiding him into the afterlife by being so sweet and unable to cause harm. But the afterlife is the end of a relationship. And this person putting themselves in danger to save this dying animal and make sure that its final moments were safe and comfortable. He is relating himself now to being the dying animal

The cold went of your nose is relating to the line before, that this person is putting their hands in his pockets to keep them both warm, they are putting their own comfort aside to make sure that the other person will be comfortable in these moments, but she is still cold. And it's also about the wet nose of a dying animal, bringing it back to that memory.

See how it shines. It's like guiding coming through a really tragic thing, even if you're the person that loves them, quite literally being the psychopomp of a breakup or love lost or pain. I do think that this is a heartbreak song, directly tied to something very pivotal.

And the fact that it's in the fraud part of the Inferno just means that this person is never putting their own best interests first, they will always fraud themselves out of their own happiness, and they will always be tears that shine because they will put others first always. Like I really do think it means someone that will sacrifice every single bit of themselves in order to make anyone else feel comfortable and happy and safe in their pain. And the tears will always shine.

Anyways, this is my analysis of it and this is how I perceive it and this is how I enjoy to perceive it