I'm not sure if this is the same song, perhaps someone could enlighten me. These verses I remember from Brunel University folk club in 1966/67, where it was a favourite.

The folk club was held in the refectory at the Acton site, the last year at this site before the move to new buildings in Uxbridge.

If all the young ladies were ducks on the water
If all the young ladies were ducks on the water
The men would turn drakes and follow them after
Sing, wak fol the day, wak fol the day, wak fol the day.

If all the young ladies were bricks in a pile
If all the young ladies were bricks in a pile
The men would turn masons and lay them in style
Sing, wak fol the day, wak fol the day, wak fol the day.

If all the young ladies were bells in a tower
If all the young ladies were bells in a tower
The men would turn sexton and bang them each hour
Sing, wak fol the day, wak fol the day, wak fol the day.

Rog