The Yiddish song, Der Rebbe Elimelech, is often said to be a version of Old King Cole, but whether there is any actual historical connection between the two songs, I know not.

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Let me add the lyrics. -Joe Offer-

Der Rebbe Abimelech Az der rebe elimelekh iz gevorn zeyer freylekh, iz gevorn zeyer freylekh elimelekh, hot er oysgeton di tfilen un hot ongeton di briln un geshikt nokh di fidlers di tsvey. Un di fidldike fidlers hobn fidldik gefidlt, hobn fidldik gefidlt hoben zey.(x2) Un az der rebe elimelekh iz gevorn nokh mer freylekh, iz gevorn nokh mer freylekh elimelekh, hot er opgemakht havdoleh mitn shames rav naftali un geshikt nokh di payklers di tsvey. Un di paykldike payklers hoben paykldik gepayklt, hoben paykldik gepayklt hoben zey. (x2) Un az der rebe elimelekh iz gevorn gor shtark freylekh, iz gevorn gor shtark freylekh elimelekh, hot er oysgeton dem kitl un hot ongeton dos hitl un geshikt nokh di tsimblers di tsvey. Un di tsimbldike tsimblers hobn tsimbldik getsimblt, hobn tsimbldik getsimblt hobn zey. (x2) Un az der rebe elimelekh iz gevorn gor shtark freylekh, iz gevorn gor shtark freylekh elimelekh, hot er geton a gutn genets un gezogt: me darf shoyn meyn nit! un geshikt di kapelye aheym. Di shikere kapelye fun raben melekh-elieh, hot oysgeshtelt dem dales a fayg. Di freylekhe kapelye hot gehopket biz der stelie un zikh farbitn mitn klaper-getsayg: Di fidldike poyker hobn tsimbldik gefidlt, un bronfndik gegosn zikh mit vayn. Di lustike klezmorim mit flesher untern orem, hoben geholiet biz in heln tog arayn.

THE RABBI ELIMELEKH So the Rabbi Elimelekh had become very happy had become very happy Elimelekh, he took off the tefilin and put on his glasses and sent after the two fiddlers. And the fiddling fiddlers had fiddled fiddlingly, had fiddle fiddlingly, they had. (x2) And then the Rabbi Elimelk had become a bit more happy had become a bit more happy Elimelekh, he made havdalah ceremony with the help of Rabbi Naftali and sent after the two drummers. And the drumming drumemrs had drummed drummingly had drummed drummingly, they had. (x2) And then the Rabbi Elimelekh had become totally happy had become totally happy Elimelekh, he took off the Kitl (suit) and put on a hat and sent after the two cymbalists. And the cymbaling cymbalists had cymballed cymballingly had cymballed cymballingly, they had. (x2) And then the Rabbi Elimelekh had become totally happy had become totally happy Elimelekh, he made a great yawn and said "no more is needed!" and sent the band home. The drunk band from Rabbi Melekh Elieh gave poverty the fig-finger gesture the happy band had hopped to the ceiling and traded with paraphernalia. The fiddling drummer had fiddled cymballingly and liquor-flowed himself with wine The cheerful musicians with bottles under their arms caroused brightly till the next day.

https://www.youtube.com/watch?v=mvEW7u-lsr0