Bob Bolton,  this tape was transcribed by Warren but I have noted some inaccuracies and have tried to correct them.   Thanks for your correction -- I tend to agree with your hearing.  As anyone who has done transcribing knows, it is good to have other people listen to the recording because repeated listen makes one "blind" to the words.

Here is another text which goes to show that this song/poem is TRADITIONAL.  There is not indicated tune.
~

A GIRL'S TOAST.  (photo of broadside)

She laid on the bed stark naked, so round and chilly
and I beside her naked leg, while each hand clasp her bubbie 
I kissed her lips with crazy glee, beneath her chin did chatter,
and then our legs did entwine, I then began to fuck her. 
Pull it out she cried don't spit inside for I will get in trouble.
I laid on her snowy breast the stream did quirt and bubble. 
I gazed into here frightened eyes and full of laughter burst
I said my dear that is the youngest child you ever nursed. 
She scooped it up with one fair hand and laughed a soft ha, ha,
and she threw it in my face and said child go and kiss your pa.

Notes: This is from an undated (ca 1895) bawdy broadside.  I have added the line breaks for easier reading.  The format of the original broadside has this poem as a straight paragraph.  No tune is indicated. Please see photo.