I learned a slightly different version

"I used to play the old banjo
and rest it on my knee
but now the strings are all broke up
an its no use to me

I took it to a meners shop
to see what he could do
and now the strings are all fixed up
and its as good as new.

I used to live in monkey land
the land where I was born
a monkey kissed me on the cheek
and said goodbye to John."

*
The whole song was sung with the banjo sound effects as follows:

"I ululused to plalalay the ololold banjololo
and relelest it ololon my kneeleeleeleelee.
But nolowlow the strililings are allallall broke ululup
and ililits no ululused to melelelele.


"I ululused to lililive in mololonkey lalaland
the lalaland where Ilili was bololololorn."

*

It was interesting to read that there was another version that had "I used to live in Amsterdam" that is the only other version that mentioned a 'I used to live' in this post.