I first heard this song in Primary School circa1973. I thought it was just a rhyme sang by soldiers to pass the time. Despite that it's politically incorrect I still sing it as it stuck with me all these years. The word I recall are:
Chinese man is very stout he had two s servants to take him out, he used to feed and give them clothes, the Chinese man with the monkeys nose. I chicoreye chee, I chicoroo, ooh nooka nooni, ningnong pong, aza catcha core, aza catcha key, chilla boy chilla boy poor Chinese.