Joybell,
       There was a street game played by the children in England many moons ago similar to what you describe. Two children formed an arch and the other children passed beneath in a circle singing the traditional song "Oranges and Lemons". On the word "head" sung with passion in the last verse the children forming the arch brought their arms down over the head of the unfortunate child who was before them who was then "it" and he or she would perform a forfeit or something. The game would then continue.

Last Verse:-
"Here comes a candle to light you to bed"
"Here comes a chopper to chop off your HEAD!!"
I have never seen a connection between this game or song and "Benjamin Backstay".