Translation (literal) of the little song posted by Toadfrog-
Tecolotito orguloso...

Proud little owl,
Proud little owl,
Who lives in the little grove,
Who lives in the little grove,
Hoo?

Cu, curu cu,cu,cu,
Poor little animal,
The little owl is hungry,
Hoo!

Look at the drinker
Look at the drinker
Drinking much from the bottle,
Drinking much from the bottle,
Hoo!

Of course 'borachito' means drinking just like a drunkard.