I heard another version of this on a tape in the early 80s. I think it was done by Andrew Dice Clay, but I'm not sure. It differed only in a few places from the standard Pisspot Pete posted above.

THE BALLAD OF SHITHOUSE LIL AND LONESOME PETE

Fill yer glasses and take yer seat
I'll tell you the story of Shithouse Lil and Lonesome Pete

Now Shithouse Lil was the village queen
The fuckin'est whore you ever seen
There was a legend goin' 'round that town
Wasn't a man alive who could put Lil's ass down

But up in the Yukon where Twin Rivers meet
Lived a one-balled halfbreed named Lonesome Pete
One mornin' the wind gave him a whiff of Lil
So he rolled up his dick an' came on down the hill

... pretty much the same for a while ....

The actual contest went like this:

Well they fucked an' they fucked an' they fucked for hours
Uprooting trees, shrubs, an' flowers
They knocked over houses as they rolled around
Killed 10 horses and tore up the ground

Lil tried front flips, backflips, stunts
An' tricks unknown to most common cunts
But Pete hung on through every feat
An' kept rammin' in more of that red hot meat

Then Lil gave Pete a whorehouse squeeze
That knocked the halfbreed to his knees
But Pete came back with a Yukon grunt
That popped out her eyes and split her cunt

Lil rolled over, cut a fart, and sighed
"Boys, I been fucked", cut 2 more, and died
When they asked the halfbreed of his amazing feat
He said, "I'm goin' back to the Yukon an' beat my meat!"