Here is the one
I know:

Down by the banks of the hanky Panky
where the bullfrogs jump from bank to bank
with an a e i o u
Michael jordan went to town
coca cola shot him down
Mountain dew shot him up
now were talkin 7 up
7 up has no cafene
now were talkin billie jean
billie jean went down the street singin
doo a dilly dilly dum dilly do
singin do a dilly dily dum dilly do


That is the version that I know...