Ahh, that reminds me of The Man Who Was So Small - though the verses (particularly some of the rhymes) sound as though they were consciously written rather than evolving out of an oral process. It's sung to the tune of a catchy Welsh hornpipe which I recognise but can't name, it's in the DT under "The Little Husband" and was recorded by John the Fish. The story is fun, if a bit wince-making, and it would certainly fit into all but the most sombre and strait-laced trad environments.