My mom taught this to me and she learned it from her dad. It is similar in some ways to one of the above posts from Jim F. It seems to use part of the song My Gal's a Corker, but I don't know where the ending lyrics come from.

There was a girl named Lindy Lou
She was a sugar baby too
She was the chief engineer at the nightshirt factory
Down by the river Sioux (don't know spelling it could be Sue)
A form was all she had, she had, she had
She had the face of a soft-shelled crab
And every night I used to tussle with buttons on her bustle
My gosh that girl was bad
Oh that's where my money goes
To buy my baby clothes
I buy her everything to keep, keep, keep her in style
She wears a pink chemise
I stand, stand around and freeze
That's where, that's where my money
That's where my money goes
Rack 'em up, stack 'em up, baby that's all