Here's the entry from Negro Folk Music U.S.A. (Harold Courlander, 1963):

One of the many hiding and finding ring games is "Bob-a Needle," which at least one informant believes was originally "Bobbin Needle." The children form a tight ring, their hands behind them, and rapidly pass an object around the circle. The person standing in the middle, who is "it," tries to locate the moving object. On the lines "Bob-a needle is a-running," the object is in motion. On the lines "Bob-a needle ain't a-running," whoever has possession of it must hold it, and the one who is "it" has a chance to guess its whereabouts. When he thinks he has located it, he calls "You got bob-a."

Well oh bob-a needle, bob-a needle,
And oh bob-a needle.
Bob-a needle is a-running,
Bob-a needle ain't a-running,
Bob-a needle is a-running,
Bob-a needle ain't a-running.

And oh bob-a needle, bob-a needle,
And oh bob-a needle, bob-a needle.
You got bob-a.