*It is an allegory where the groom/prince represents God and his love for his bride Israel. Many educated Jews have held this position for generations and there is no doubt that Israel is often presented as a bride to God, wayward or loyal. (Jeremiah 3:20, Isaiah 54...) and some will give elaborate interpretations for each verse.
*Related to the above is the position that Songs is an allegory portraying the love of Yeshua Christ for his bride the church. (Revelations 21:2-11).
*Some hold a position that it is portraying, in extended metaphor, the love of God/Christ for the human soul, of each individual.
*Some say that it is simply the poetic meetings between Solomon and a Shulamite maiden, put into flowery language, and nothing more..
These are some common views held and sometimes they are found mixed but what if the book is multi-dimensional, in the sense that God designed it through various writers to touch on many things or to point to many things. I think Song of Songs teaches that love is higher than materialism. Note the the second verse…where “wine” represents (?) material things. This possibly indicates a design like the Psalms, where the very first psalm illustrates the two paths: following God or you can follow Evil, thus setting the tempo for the rest of the Psalms? This is something to think about.