त्वङ्मांसमेदोस्थिपुरीषराशा -वहंमतिं मूढजनः करोति ।विलक्षणं वेत्ति विचारशीलोनिजस्वरूपं परमार्थभूतम् ॥ १६१ ॥
In plain words
A deluded person looks at this heap of skin, flesh, fat, bone, and waste and calls it 'I'. But someone who actually reflects knows better -- he recognizes his own true nature, the ultimate reality itself, as something entirely distinct from all of that.
Close to the Sanskrit
The deluded person forms the notion 'I' toward the heap of skin, flesh, fat, bone, and excrement. The one given to inquiry knows his own true nature, which is the highest reality, as distinct from that.