There are dozens of verses, I've heard this one sung:

I will build myself a boat and sail out on the ocean,
To find wild mountain thyme, it's the flower of true devotion.

At several clubs which I've known, it was customary to sing the song around the room at the end. I usually used to make up a new verse each week so I wouldn't get caught out. I think the verse from Vectis was an adaption of one of mine (she's heard me sing it several times):

If my true love chucks me out, then her love she can keep
I'll just pull on me wellies, and find myself a sheep