We had a thread on this at the end of this past January, titled "seven drunken nights". You can look it up for more info. Here's what I posted in it:

Years ago I was routinely hearing 6 verses from Irish groups that played here in Kansas City (and most of them were from Ireland--what a pity those days are gone). The bands would never sing the seventh verse, saying it was too risqué for mixed company. The sixth verse is a light-hearted dig at the English, which usually gets lots of laughs here in the US, but I don't know if it would be considered rude or offensive in England.

The first five verses are:
horse outside the door/milk cow/a saddle on a milk cow
coat beside the door/blanket/buttons on a blanket
pipe upon the table/tin whistle/tobacco in a tin whistle
boots beside the bed/chamber pots/laces on a chamber pot
head upon the pillow/baby/whiskers on a baby
In these five verses, each gift has been sent by her mother

The sixth verse:
As I came home on Saturday night, as drunk as drunk could be
I saw a man run out the door, and it was after three!
So I said to me wife, me pretty little wife, Oh won't you tell to me
Who is this man run out the door, and here 'tis after three?
She said You're drunk, you're drunk, you silly old fool, it's a pity you canna see
'Tis the English tax collector that the Queen has sent to me
Well, I've roamed this world for many a day, a hundred miles or more
(Pause briefly here to heighten the effect)
But an Englishman that could last 'til three I never saw before

I have never heard the seventh verse sung, but it was whispered to me once, and it is obscene. All I remember is the wife said it was a sausage--I'm sure you get the drift.