As a kid in the late 70s in Kentucky, I played this game. However, we "translated" the lyrics into english words, though they stil didn't make much sense. We sang:
Oh my crocodile
Oh my crack crack
There's a tree called
the tricky tricky trap
Fa-low, fa-low,
fa-low, fa-low fa-low
fa-low!
1 2 3 4
If you got slapped on 4 you were out...

Wonder what happened to "stella" in this version?