I have terrible memories of this song. I entered Teachers' College in the sixties. My summer job at a steel plant had just finished and I came off night shift and went directly to the school. In those days every male student teacher wore a suit & tie to school every day, so I was the only one with work clothes and a hard hat under my arm. Our first class was P.E. and since no one had gym clothes, the Prof decided to do something that took little effort.
She told us to pretend we'd been captured by teddy bears and tied up in their cave and we had to try to get loose of our bonds. She then put on THE TEDDY BEARS' PICNIC. Needless to say, I thought maybe I'd made a poor choice of careers. Fortunately, it was all uphill from there.