we played it in my primary school in Canberra (North Ainslie primary),in the mid 60s and called it elastics.

i remember

Scotland, England, Ireland, Wales,
don't step on the monkeys' tails,
England, Ireland, Scotland, France
don't step on the monkeys' pants...

and we used all sorts of other rhymes with it as well.

there was another thread recently on skipping & clapping games that mentioned elestics as well - i've just had a look but couldn't find it - Joybell & Bob Bolton would know.

freda