I've always thought the verse Leadfingers mentioned above deserved a special prize, and wonder what its origin was:

I Saw a Butterfly flutter by...
And a Dragonfly drink a Flagon dry...

I first heard it back in 1984 from Richard "Chez" Watts from Bristol, UK, who was designing supercomputer chips in Maine on his work visa, and regaling our folk club with a wonderful selection of novel (to us) verses and songs. For the record he sang this verse as:

I Saw a Butterfly flutter by...
Saw a Dragonfly drink a Flagon dry...

He was also the first one I've ever heard sing:

I'd rather have a bottle in front of me...
Than have a frontal lobotomy...

Cheerily,
Charley Noble