Down by the bay where the hanky-panky
Where the bullfrog jumps from bank to banky
Says eep, op, eep op op
Skiddle diddle kernel pop
I pledge allegiance to the flag
Michael Jackson makes me gag
Coca Cola has caffeine
Now we're talking jelly beans
Jelly beans are out of style
We've been talking for a while
Charlie Brown is it!

Or, some people play it like this:

Down by the bay where the hanky-panky
Where the bullfrog jumps from bank to banky
Says eep, op, eep op op
Skiddle diddle kernel pop
I pledge allegiance to the flag
Michael Jackson makes me gag
Coca Cola has caffeine
Now we're drinking gasoline
Gasoline has no fuel
Now we're drinking Mountain Dew
Mountain Dew fell off the mountain
Now we're drinking form the fountain
Fountain broke and made me choke
And now we're drinking plain old Coke!