Correction: the steam locomotive is in Australia.

As to the US appropriation for Captain Kangaroo,
there does exist a lyric fitted to this tune,
with words by Mary Rodgers Guettel.
Years ago I heard a recording of the Captain Kangaroo actor,
Bob Keeshan, singing this tune and those lyrics.
I'm not having any luck locating said lyrics online, however.

I have vague memories of:
"Mr. Moose's voice is flat/Nothing sillier than that..."
and
"Have a good look at me!"

Rodgers Guettel speaks of this lyric in her memoirs volume, "Shy."