Sorry about the grammar in the last post. At 2:30 AM sometimes the eyes and brain don't coordinate. Here are the lyrics as I hear them. The refrain of Weile, Weile, Waile is done at the end of each first line and Down by the River Saile (pronounced Sawyer) at the end of each second line. Words I can't make out well have ().

There was an old woman who lived in the woods, w-w-w
There was an old woman who lived in the woods, d-b-r-s//
She had a baby six months old,
She had a baby six months old,//
She had a penknife three foot long,
She had a penknife three foot long,//
She stuck the knife in the baby's head,
The more she stuck, the more it bled,//
Three big (knocks) came knocking at the door,
Two policemen and a man,//
"Are you the woman what killed the child,"
"Are you the woman what killed the child,"//
"I'm the woman what killed the child,"
"I'm the woman what killed the child,"//
(Who got chucked) and she got hung,
(Who got chucked) and she got hung,//
The moral of this story is,
Don't stick knives in baby's head,//

Hope this is helpful. If others have a more accurate rendering, please correct.