In New Orleans, Louisiana, ours normally goes

Down by the riverside Hanky Panky
Where the bullfrog jumps from bank to bank
I said a A-E-I-O-U, bamboo!
Johnny struck a match and blamed it on Sue
Sue told Ma
Ma told Pa
Johnny caught a whooping so ha-ha-ha!
He jumped so high
He touched the sky
And he never came back 'till the
Fourth of July!

Everybody sits in a circle and sends a clap through the circle while singing the song and move the clap around the circle at a random rhythm that goes or doesn't go with the song's timing depending on how many people are playing. The rhythm doesn't change until the very last line, where people are trying to break it into as many syllables as possible to keep the clap away from them. The person who gets the 'Ju' syllable in July has to hit the hand of the person that would have gotten 'ly'. If they hit it, then the 'ly' person is out. If they miss, then the 'Ju' person is out. The 'ly' person can move their hand to avoid getting hit.