For the almost two years I've been collecting versions of these "teacher taunts".

Here's one example from a thread on schoolyard games on: http://blog.oftheoctopuses.com/000518.php

"die teacher die !!

On top of the schoolhouse
All covered with blood
I shot my poor teacher
With a .44 slug

I went to her funeral,
I went to her grave.
Some people threw flowers,
I threw a grenade.

It blew up the city.
It blew up the town.
It blew my poor teacher
Right out of the ground.

Now it seems my poor teacher,
Was not quite dead.
So I took a machete,
And I chopped off her head."
posted by Cassi at April 17, 2004 [quoted with permission of that
blog's members

"Cassi" is the screen name for a girl who posted several times to Octoblog's thread on Schoolyard games. Her examples are interesting to say the least, and her comments are often quite witty. In one of her posts, Cassi described herself as a 6th grader.

There are also a number of Mudcat threads that have examples of these kinds of rhymes. One such thread is Heigh Ho, Heigh Ho, I Bit the Teacher's Toe!