Yes, raccoon. Some consider them a delicacy. Here is an url that will tell you just about everything you need to know about them, and a bit more. Nice picture at the bottom of the page.

I had an infestation at my house a few years ago. Even tying down the lids of garbage cans with bungee cords did not help. The little fellows ripped them right off. Possums (properly opossums) were a problem, too. I trapped one in the corner of my carport one day, and sure enough, he fell over like he was dead. I let him go.

I think if the song were to be rewritten nowadays, someone would likely work the armadillo into the mix, maybe to replace the razorback, seeing as they are all gone anyway.