Here is a UK Version from 1975/76 that you may not know. It's given a few laughs in the pub and bar in the UK.

TEDDY BEARS PICNIC

If you go down in the woods today
You better not go alone.
It's lovely down in the woods today
But safer to stay at home,
For every bear that ever there was
Is gathered there for certain because
Today's the day the Teddy bears have their RAVE UP.

There's Angel bears come on their bikes
Dressed in their leather gear.
There's gallons of scrumpy, green and lumpy
And horrible Watney's beer.
Yogi downed a pint of it quick,
Was very promptly, horribly sick,
And filled up both of Paddington's new wellies!

Rave up time for Teddy bears!
The little Teddy Bears are having a lovely time today,
Grooving to those heavy sounds
That only Status Quo know how to play.
Over there is Cresta Bear.
He says it's Frothy Man, he's doing his little brain.
Rupert Bear is on a trip
Winnie the Pooh is doing a strip
They reckon he's on the game.

Every bear that ever been good
Is sure of a treat today.
Cause mummy and daddy and baby bear
Have found a new game to play.
Beneath the trees where nobody sees
There's Goldilocks tied up to a tree.
You can bet your life she's getting more than porridge.

If you go down to the woods today
You're sure of a big surprise.
It's lovely down in the woods today.
You'll never believe your eyes.
For it's a really freaky scene.
A big butch bear is playing the Queen,
And they don't call him "Sugar Puff'" for nothing.

Rave up time for Teddy Bears!
The little Teddy Bears are having a lovely time today,
Groping in the undergrowth.
Oh what would Enid Blyton have to say?
See them madly stagger out,
Collapsing on the ground, they haven't got any cares.
At five past twelve, the coppers are coming to take US all away
Because WE ARE naughty little Teddy Bears.

THE END