I don't have any new verses for you, just an anecdote from my youth.

"The Mermaid Song" was sung regularly when I attended Scout camp in New Jersey many years ago. Most of the scouts lived in log cabins in the woods, but one unit resided in a large residence built to resemble a ship along side the shore of our lake. Aboard SHIP, as it was unpretentiously named, the routine followed a quasi-nautical regimen.

We all sang "The Mermaid Song" in the mess hall. It was essentially the same version found in the database. We sang it at a brisk pace. When we came to the last verse, however, the guys from SHIP would all rise to their feet, place their caps over their hearts, and solo the last verse in very solemn fashion:

Then three times around went our gallant ship,
And three times around went she
Three times around went our gallant ship
Then she sank to the bottom of the sea,

Then all of us would do the last chorus, "O the ocean waves..." It was quite amusing to visitors.

--SteveF