Do they hang below your knees?
Do they tear your BVDs?
Do they irritate
When you catch them on the gate?
Do they feel so nice
When they glide along the ice?
Do they hang too low in the morning?

Any old storm
Any old port
Life is long
Love is short
Better get a woman, get a woman if you can
If you can't get a woman, get a clean old man

or, alternatively

Any old port
Any old storm
Life is short
Love is warm
Better get a woman, get a woman if you can
If you can't get a woman, get a clean old man

From the singing of Oscar Brand. Actually, one of the choruses above is the way Oscar Brand sang it, and the other is the way I found myself singing it, but I've forgotten now which is which.

And it seems to me that the melody is Turkey in the Straw rather than the Sailor's Hornpipe - but the two tunes are similar.