Drisheen is a Cork version of black pudding - a spiced blood pudding. Crubeens are salted pig's feet, very gelatinous, usually eaten boiled with cabbage added at the end and nice floury spuds smothered in butter.
The lyrics of the song are far too rude to comment on. And it's certainly a libel on the bantams of Blarney. Christy Ring was a hurler, playing a kind of blood sport related to karate, ice-hockey on grass (only for men) and sabre-fighting. Father Mathew was a campaigner against alcohol, who founded the Pioneers, a group of very holy men who don't drink at all (or in Cork, at all at all).