Fascinating that this thread has been going for almost eleven years!

Anyway, I remember a version from an old 45rpm vinyl record, called I think "3,4,5 Nursery Course", and the words used in that version were:

The Animals went to the fair,
The birds and the beasts were there,
The old baboon by the light of the moon,
Was combing his golden hair.
The monk(ey) fell out of his bunk,
Right onto the Elephant's trunk,
The elephant sneezed and fell on his knees,
And what became of the monkey, monkey, monkey, monkey.....

Then one of the kids said:

"Now let's sing it again, and I'll sing monkey all the time!"

Whereupon they repeated the song again, but one girl sang "monkey, monkey, monkey, monkey" all the time in the background.

How interesting :-)