Could it have been a jump rope chant/song? It sounds like it may have been. Some children's rhymes and play songs are derived from earlier songs, and the opposite is also true - songs get made from children's game rhymes. I am wondering if Azizi might be of some help. google cocojams Jambalayah. Doesn't appear any of her blogs have been active for awhile - at least that turn up on a cursory google search. A facebook message might be your best bet to reach her. Very knowledgable.

Doug Elliott, since you mentioned the singer sounded something like Doc Watson, might also be another potential resource. You could inquire him through his website http://www.dougelliott.com/. I know this song is not on "Bullfrogs on Your Mind." Doug is a naturalist, storyteller and musician in western NC, and might have some clues.