I'm from beaverton oregon here how we sing it.

Down by the banks of the hanky pank pank pank where the bull frogs jump from bank to bank with an eeps, Ipes , opes, opps, here comes the bull frog with a big KER-PLOPPP!

Repeats until there only one person left and that person is the winner. Every time the song repeats the song gets faster. Whoever hand is clapped on the words KER-PLOP is out.

I learned this six year ago.

Pank pernounced ( P-ay-n-k) (pain-k)