"I like bread and butter/I like toast and Jam" (or was it "*we* like"?) reminds me of another '50's novelty classic:

(Chorus:)
I like peanut butter
Creamy peanut butter
Crunchy peanut butter, too.

Well I went to a party and what did they ea-eat?
(Peanut, peanut butter)
Well it tastes so good but it's so hard to eat.
(Peanut, peanut butter)
Chorus

Maybe they didn't "rhyme" the same word with itself, but it went something like that. Anynoe remember any more?