I've been looking online to try and find the original version I used to play on the playground of a game similar to this. We did stand in a circle and count to 5. If you were #5 and could slap the next person counting 6 before they moved their hand, they would be out. When it got down to two people, we declared "civil war" and would finger fence. As I recall, the rhyme went something like this (although I think it was longer):
Crocadilly oh my
crack crack crack
Hey chico chico
chico chico chunk
Follow
Follow
Follow follow follow follow
1, 2, 3, 4, 5....

Does this sound familiar to anyone? Or am I on to a different chant?