Frank suggests that the reel doesn't have lyrics, but while they are not at all connected to the song, there is a set of lyrics sung occasionally to the reel.

I have heard Johnnie Moynihan among others singing these fairly nonsensical words to the tune of the reel.

It starts something like

Oh roe we rattled them
Oh roe we chased them
Oh roe we ratlled them
The little pack of tailors.

Nothing really to do with the reel's title, or to the song of the same name. The only connection is the tune title.