My transcription from the recording at the Internet Archive:


NEVER SMILE AT A CROCODILE
Words and music by Frank Churchill and Jack Lawrence, 1939—see note below.
As recorded by Paulette Sisters with Larry Clinton and His Orchestra, on Columbia 39953, 1953.

Never smile at a crocodile.
No, you can't get friendly with a crocodile.
Don't be taken in by his welcome grin.
He's imagining how well you'd fit within his skin.

Never smile at a crocodile.
Never tip your hat and stop to talk awhile.
Never run; walk away; say good-night, not good-day.
Clear the aisle and never smile at Mister Crocodile.

You may very well be well-bred—
Lots of etiquette in your head—
But there's always some special case,
Time or place to forget etiquette,
For instance:

If you meet a sad crocodile
Who looks bad and lonely and mild,
He’s just hungry; that you can bet.
It’s the time to forget etiquette.

Never smile at a crocodile.
No, you can't get friendly with a crocodile.
Don't be taken in by his welcome grin.
He's imagining how well you'd fit within his skin.

Never smile at a crocodile.
Never tip your hat and stop to talk awhile.
Don’t be rude; never mock; throw a kiss, not a rock.
Clear the aisle and never smile at Mister Crocodile.

- - -
Notes from Second Hand Songs:
“Written by Churchill and Lawrence for the Disney cartoon movie version of Peter Pan when it was first being developed. The movie was released more than ten years after Churchill's death, and only featured an instrumental version of the song. The version with lyrics was cut from the movie, but appeared on other releases around the same time.”