This is the way I learned it in church summer camp when I was a kid. The first two lines of the fourth verse have flown from my brain, so there are asterisks there....

Oh, the horses run around, their feet are on the ground,
Oh, who will wind the clock when I'm away, away,
Go get the axe, there's a hair on baby's chin,
A boy's best friend is his mother, his mother.

Lookin' through a knowhole in grampa's wooden leg,
Why did they put the shore so near the ocean, the ocean?
Feed the baby garlic to find him in the dark,
And who cut the sleeves off father's vest, his vest?

Lookin' out a window, a second story window,
I slipped and sprained my eyelash on the pavement, the pavement,
Go get the Listerine, sister has a beau,
We hope that gramma's teeth will soon fir Jenny, fit Jenny.

**** **** **** **** **** **** **** ****
**** **** **** **** **** **** **** ****
A snake's belt slips, because he has no hips,
And his waistline is just below his necktie, his necktie.

If anyone can fill in those two lines for me, I sure would be thankful.