We used to sing this in my scout troop, and a couple of guys and I sang it in our High School talent show in 1977 (yikes!).
A few minor corrections, as I remember them:
2nd stanza:
The people got sore at her, so did the GOATS (not boats).
4th stanza, more in the way it is sung:
And the hens refuse-ed to lay-ee.
At the very end, we would sing the refrain twice, with a kind of Hawaiian-esque transition between:
Oo la layee, Oo la layee, Oo la lay-HEE, Oo la lay,
ay-ay(kinda sung hula-like),
Oo la layee, oo la layee, oo la laheeeeeee, oo la lay!
Also, at the end of every refrain, we'd say, "boom-boom" or "bum-bum", kind of like a tuba or bass drum.