Here's a link to an audio YouTube clip of Doc Watson & Clarence Ashley-Crawdad Song:

http://www.youtube.com/watch?v=vcmdC8rk-8s

The verses are slightly different and the ending is "Honey, baby mine" {and not "honey, sugar baby mine}.

1st verse-same as in the DT

2nd verse: Sat on the bank till my feet get cold
            My socks [?] see those crawdads jump in that hole

3rd verse Yonder came a man with a sack on his back
          He's got more crawdads you can pack [?]
   
4th verse: If you fell down and you bust that sack
          You socks see those the crawdad's crawlin back [?]

5th verse: What did the hen duck say to the drake
          There aint no more crawdads in that lake

-snip-

I'm not sure if I got all those words right. I liked that rendition. It sounded great!