I too listened to this song as a child and found it very amusing. We would sing and dance along with it. Certainly I never approved of the behaviour espoused by it and the only influence it held for me was as a venue to laugh along with my friends at the absurdity of it.

The question might be rephrased: "Is this song appropriate for ----? (fill in the blank.) Kind of depends on the audience, I guess. But I'm inclined towards songs that might push a few buttons in almost any audience. If it gets under your skin at least you might be thinking about it some.

At any rate, I've appreciated the discourse on the subject and it's something to hear that others share similar memories of the song from childhood.