The song quoted by Dave Hall is by Barry Humphreys, I think it was written for the film "The Adventures of Barry MacKenizee," circa 1973 or 1974. It is usually quoted in a short form, without the final verse. Here's the whole thing.

I was down on Bondi Pier drinking tubes of ice-cold beer,
A bucketful of prawns upon me knee.
When I swallowed the last prawn I had a technicolor yawn
And I chundered in the old Pacific Sea.
CHORUS
Drink it up (chugalug chugalug), drink it up (chugalug chugalug)
Have another dozen tubes or so with me.
If you want to throw your voice,
Mate, you have no other choice
Than to chunder in the old Pacific Sea!

I was sitting in the surf with a mate of mine named Murph
Who asked to crack a tube or so with me.
But the bastard barely swallowed it when he went for the big spit
And chundered in the old Pacific sea. (Chorus)

I've had liquid laughs in bars and I've hurled from moving cars
And I'll chuckle when and where it pleases me,
But if I could pick the spot to regurgitate me lot
I would chunder in the old Pacific sea. (Chorus)

There are many ways that you can have a ball when you are pukin',
And the secret of it's in variety.
Oh, you can hurl a tiger from the summit of the Eiger
Or chunder in the old Pacific sea. (Chorus)

L'Envoi

Don't kneel there all alone by the big white telephone
When you can chunder in the old Pacific sea.