This is the version I have sung for so many years I no longer know where I got it...

Here I sit on Buttermilk hill, weep I must and weep my fill
Every tear would turn a mill, Johnny's gone for a soldier-O

Chorus:
Shule, shule, shule aroon
Shule the aggaragga shule the coon
Shule, shule, shule aroon
Bobalinka penny wont you tie me oh

Sold my rod, sold my reel, sold my only spinning wheel
To buy my love a sword of steel, Johnny's gone for a soldier-O

Sold my flax, sold my meal, sold my only spinny wheel
Now he's dead upon the field, Johnny has gone for a soldier-O


Dye my petticoat, dye it red, Round the world I'll bake my bread
Because my soldier boy is dead, Johnny's gone for a soldier-O

Words in the chorus are simply phonetic to me and the way I remember them...