The only part I remember for sure from listening to the little golden (Disney?) record when I was a kid nigh on to fifty years ago is:
...and a mean ol' rat was he.
He had one good leg and the other was a peg
And he lived in a holler tree.
He never came out till the dark of the moon,
And his face he never showed,
But you could hear his peg leg (thump-a-thump-thump)
As he went down the road.