Lyrics from the sheet music at Baylor University:


I LIKE IT
Words and music by Irving Berlin, ©1921.

1. Mary Greene, seventeen, Mother's only child—
Mother's cross just because Mary's running wild—
Sits and spoons afternoons with the boy next door.
Mother cries: "You mustn't do it" and Mary starts to roar:

CHORUS: I'm gonna do it if I like it, and I like it.
I'll let him hold me, though you scold me when I'm through.
I hate to make Mother and Dad so terribly mad,
But there are times when it's good to be bad.
I'm gonna hold hands if I like it, and I like it.
A little squeezing is so pleasing when you're blue,
And since the boy next door first realized
I'd let him kiss me, well you'll be surprised.
I'm gonna do it if I like it, and I do.

2. Mary's beau worries so, more and more each day.
Mary flirts, and it hurts more than he can say.
She enjoys vamping boys with her roguish eyes.
When her beau says: "Please don't do it," she looks at him and cries: CHORUS

* * *
The Internet Archive has recordings by:
Marion Harris, 1920—but her recording has the title I'M GONNA DO IT IF I LIKE IT.
Billy Jones and Ernest Hare, 1921—but they sing almost entirely different lyrics than the above. See below.
All Star Trio and Their Orchestra, 1921—an instrumental medley with ALL BY MYSELF.