Here's another version of Down By The Banks of the Hanky Panky that mentions Michael Jackson:

I know a hand game and it goes like this-Down by the bank said a hanky panky when a bull frog jumped from bank to bank
i said A-E-I-O-U micheal jackson went to town coca cola shot him down mountain dew shot him up now were talking 7 up 7 up has no cafine now were talking billy Jean billy jean went down the street singing DO NOT EAT ME I'M A ROTTEN PIECE OF MEAT look'n good look'n fine just a $1.99 and you are out.
-chrissi at May 24, 2006

http://blog.oftheoctopuses.com/000518.php