Nonie, I once heard someone perform a parody of The Frozen Logger called "My Lager Lover"; don't remember how it went (or who sang it, for that matter), just that it was funny... Maybe someone here knows it?

Some other good Songs of Exaggeration:
The Seven Wonders-on the first Silly Sisters album; a Welsh song in which the singers list various incredible sights; it's in the DT
Trooper and the Maid-my favorites are the versions in which he fights off umpteen of her father's men single-handedly, and when her father offers him money to stop, the daughter says "Fight on-it's not enough!"
Johnie O'Braedislee-Johnnie, after having been shot while sleeping by the King's foresters, manages to kill 6 of them, takes the 7th, breaks seven of his ribs, his arm and his collarbone before sending him off to carry the news home, then promptly expires; kinda like opera, in which dying characters always seem to have enough breath to sing one last aria...
Tying Knots in the Devil's Tail- two cowpokes get staggering drunk, meet the devil on their way home, and proceed to rope, hogtie, brand and de-horn him, leaving him tied to a tree with knots tied in his tail; this is one of a whole bunch of cowboy brag songs; The Glory Trail is another great one about a cowboy who ropes a mountain lion and has to keep galloping ahead of it for eternity...
Nine Times a Night - 'nuff said...
Andrew Rose-a (supposedly) true account of the horrendous punishments meted out to a poor British seaman, Andrew Rose; his captain was court-martialed and hung for his abuse. This song unfortunately isn't exaggeration, but its gruesome list of tortures is WAY over the top...
Jackie Monroe-young woman dresses like man to follow her true love into the army, fights her way to her wounded love, coerces the chaplain to marry them and proudly announces that she's been promoted to colonel; this would make a GREAT swashbuckler movie a la Errol Flynn!

Speaking of marksmanship in the movies, ever notice the funniest line in Star Wars? Obi-wan Kenobi points to the wreckage of the Jawa's transport and says "Look at those blast points; only Imperial Storm troopers are that precise"; but those same storm troopers can't seem to hit our heroes for the entire rest of the movie...