Translation by His Divine Grace A. C. Bhaktivedanta Swami Srila Prabhupada:
Like a great mountain, the Lord stands as the abode for all moving and nonmoving living entities. He is the friend of the snakes because Lord Ananta is His friend. As a mountain has thousands of golden peaks, so the Lord was seen with the thousands of golden-helmeted hoods of Ananta-naga; and as a mountain is sometimes filled with jewels, so also His transcendental body was fully decorated with valuable jewels. As a mountains is sometimes submerged in the ocean water, so the Lord is sometimes submerged in the water of devastation.