At P.S. 152 in Manhattan, we used to sing,

Give a yell, give a cheer, for the boys who drink the beer, in the cellars of 152
They are brave, they are bold, for the liquor they can hold, in the cellars of 152
For it's guzzle, guzzle, guzzle, as the beer goes down their muzzle,
Shout out your orders loud and clear - more beer!
And if [insert teacher's name here] finds us here, we'll say [ditto] have a beer
In the cellars of 152.

I believe the "real" words are, in the cellars of Murphy's saloon.

We also sang,

I'm Chiquita Banana, and I'm here to say, how to get rid of your teacher the easy way
Just put a banana peel on the floor, and watch your teacher fly out the door.

I'm sure there are more
1) in some older thread here,
2) in Joe's Got a Head Like a Ping-Pong Ball by Jon & Martha Pankake (all names approximate), and
3) in the DT database, possibly accessible by searching for "school"