This is as much as I can remember of the way I learned it.

Two brothers on their way-3X
One wore blue and one wore grey.

One wore blue and one wore grey,
as they marched along their way.
The fife and drum began to play,
all on a beautiful morning.

Two girls standing by the railroad track-3X
one wore blue and one wore black.

One wore blue and one wore black,
waiting by the railroad track,
for their lovers to come back,
all on a beautiful morning.