Gee, it's great to find this thread, though apparently the conversation started years ago and nobody who started it is reading it now.

My scoutmaster taught us that song as Darky Sunday School. When I sang it for my kids I cleaned it up similarly to the first Allan S post: Join us at the Sunday School and have a lot of fun. I didn't bother with the chewing gum and razors line. Figured it would go over their heads anyway.

Here's a verse we sang (to add to the collection):

Adam was the first man that ever was invented.
He lived all alone and he was discontented.
All night long you could hear him moan,
"I'm gettin' mighty tired of livin' all alone."

And another version of Salome:

Salome was a dancer; she danced the hoochy-cooch.
She danced before the kings and queens and didn't wear so mooch.
The queen said, "Stop! We'll have no scandal here."
Salome said, "The heck we won't!" and kicked the chandelier.