Once upon a time I encountered the duo Mechanical Horsetrough, whose songs were alternately indelicate in the extreme or libellous about Watney's Red Barrel, occasionally both, and their style fell very much into the "not a dry knicker in the house" category. It took me 25 years to track down the words of "Teddy Bears' Raveup", now shown at http://www.mudcat.org/thread.cfm?threadid=62712 (sorry, can't get the clicky engine to work).

Still one of my favourites, along with others mentioned in this thread.