My family still sings this song in a version that is yet again slightly different from all of those above:

When horses run around. Their feet are on the ground.
Who wound the clock while I'm away, away?
Run get the axe, there's a hair on baby's chin;
Who cut the sleeves off Grandpa's vest?

While leaning out the window, The second story window,
I slipped and sprained my eyebrow on the pavement, the pavement.
They feed the baby garlic, to find her in the dark.
When Grandpa died Aunt Hattie got his false teeth.

While looking through the knothole of Grandpa's wooden leg,
Why do they build the shore so near the ocean, the ocean?
Run get the listerine; sister's got a beau.
They shifted Willie's grave to build a sewer.