I dont know this rhyme at all, either because it never reached England or because I was too clumsy to play skipping (and went home to dinner, so missed the chance). But if it was a skipping rhyme my guess would be 2 children in the (long) rope together, then a 3rd called in "in a baby carriage" as child of first 2, then first child steps out and 2nd & 3rd are KISSING.