Just to complicate things further, the version I learned had "Gunderback" in the starring role! The only lines I remember are the chorus and the second verse:

Oh Gunderback, oh Gunderback how could you be so mean?
To ever have invented such a horrible machine
For pussy cats and long-tailed rats will never more be seen
They're all ground up for sausages in Gunderback's machine

One day some little boys
Came walking in the shop
They ordered up some sausages and half a case of pop
And while they were a-waiting, they whistled up a tune
And all the little sausages went dancing round the room!

***

I get a kick out of this song because we have both pussy cats and long-tailed rats as pets in our house! I wish I could remember the rest of the lyrics. My mother-in-law was a substitute teacher and she (and I) remember this as one of the songs in the songbooks we had in second grade. And we both remember it as "Gunderback"!