This is a poem parody, rather than a song parody, but I remember this from a long time ago, in an old Mad Magazine issue. I think it was supposed to be an Alfred E Neuman creation:

I wandered lonely as a clod
Just picking up old rags and bottles,
when on the lonely road I trod
I came upon some axolotls.
Beside the lake, beneath the trees,
A sight to make a man's blood freeze.

Some had handles, some were plain-
they were orange, pink, and green, in the main.
My hair stood up, my blood ran cold.
I fled with fear upon my soul.
I find my solace now in bottles,
and I forget them axolotls.