Ours was even more violent:

Mine eyes have seen the glory of the burning of the school!
We are killing all the teachers, we are breaking all the rules,
We have got the Vice-Principal by his family jewels,
The Class is marching on!

Glory, glory hallelu-yer,
Teacher hit me with a ruler.
Met her at the door with a loaded .44,
And she ain't gonna teach no more!

And this from little elementary school students. Amazing what the world is coming to, isn't it? (Oh, by the way, you have to sing with the accent on the second syllable in "Principal".)

We also sang in high school, to the tune of "Caissons go Rolling Along":

We are brave, we are bold, we do nothing we are told,
We are prisoners of (insert school name here).
We are sloppy, we are lazy, and we drive our teachers crazy,
We are prisoners of (insert school name here).
How proud we stand with matches in our hands,
Watching as the place is burning down (we wish!)
We are brave, we are bold, we do nothing we are told,
We are prisoners of (insert school name here).