Here's how I remember it (and sing it to my grandchildren). I learned it at Girl Scouts in the 1940/50s

^^ Baby Owlet,
Purple Owlet,
Singing as Moon shines above.

Baby Owlet,
Purple Owlet,
Singing as Moon shines above.

Won't you lend me your swift pinion?
Won't you lend me your swift pinion,
Won't you lend me your swift pinion,
That I may
Fly to my love.

That I may
Fly to my love.

Tetra coo, coo, coo
Tetra Coo, coo, coo
Tetra coo, coo coo
Baby Owlet
Poor little owlet
He is tired
from crying so.

If I were a
Baby Owlet
I would never steal away.
If I were a
Baby Owlet
I would never steal away.

Till my wings were strong and steady
Till my wings were strong and steady
Till my wings were strong and steady
Safe within
My nest I'd stay.
Safe witin
My nest I'd stay.

Then I usually sing it over again starting from "Tetra Coo, coo, coo
and keep going over it until the darlings fall asleep. Baby Owlet is one of their very favorite songs -- just wish I had some printed autority for the words!!

Always,
Kathryn Hall Allahyri
Mercer Island, WA