I used to do a chant/clap game similar to that with my friends in elementary school when I lived in Indiana, it went something like this:

Down, down baby, down by the rollercoaster
Sweet, sweet baby, too sweet, I'll let you go
Shimmy Shimmy coco pop
Shimmy shimmy down
Shimmy Shimmy coco pop
Break down, break down
Two Chinese, sitting on a bench,
Tryin' to make a dollar outta 15 cents
You miss, you miss, you miss like this
This is how me and my boy friend kiss
Like this

Looking back on it now, years later, it seems racist, but I didn't really think about it when I lived in an area that was virtually just Caucasian, even though I, myself, am hispanic.