I have been singing this to my kids just like so many of the thread writers have said...they always looked at me funny and rolled their eyes...oh well, I always loved it.
Then, when I was courting my wife out in Louisiana, I'd sing it to her and tell her we'd be moving to Paradise soon... I won, took her home with me, and now we live in central Florida again.

I grew up in South Miami and we sang this every morning in elementary school (early 70's) before the announcements...from reading this, things were pretty consistent back then.

I'd love to get a copy of the original...well, the version that they played in school...don't know who/when that was actually recorded.

(The other elementary school song I found the original from in the same era was "chicken fat" - but can't find this one...)