I learned it as follows:

Once in China there lived a tall man
His name was Chickarecka Chee Chy Cho
The Chinese man could not walk nor talk
His servants had to carry him about.

Refrain: Chickarecka Chee Chy Cho Chickaloro
Bon-go lor-o piggy-wiggy wag-oh
Ho cho cho cho hit him on the ko-ko
Chit-a-by, chit-a-by, Chee Chi (pronounced Chai) Cho

The Chinese man he grew so stout
His servants had to car-ry him about.
They took him up to the top of the hill,
And rolled him down like a rolling pin.

REFRAIN (repeat)