This old hat that I've got on, the crown of it is gone,
The brim it is all come asunder.
If I only had one more, if I only had a score,
I would keep this old hat to remember.

CHO All through the grog, the jolly, jolly grog,
All through the beer and tobacco.
I've spent all my tin with a lassie drinking gin.
And across the briney ocean I must wander.

This old boot that I've got on, the sole of it is gone,
The tongue it is all come asunder…

This old coat that I've got on, the sleeve of it is gone,
The pockets are all come asunder…

This old shirt that I've got on, the tail of it is gone,
The collar is all come asunder…

These old breeches I've got on, the crutch of it is gone,
The arse it is all come asunder…

The connection? Apparently in male only environments (army barracks, some pubs) it was the practice to sing this and remove each article as it was mentioned. Also, I believe, in some places, to dip the article in a pint of beer, which had to be drunk off at the end.