The version I used to sing:

I am a gay caballero,
Going to Rio d'Janiero.
I'm taking with me my Bombom-bodee
And both of my Bombom-bodero.

Then I went to a gay fiesta,
And I met a lovely Senorita.
She wanted to see my Bombom-bodee
And both of my Bombom-bodero.

So I took her to my hacienda
And I laid her on my soft sofalita,
I gave her five shots of my Bombom-bodee
And both of my Bombom-bodero.

But this lovely senorita
Had a very 'rosita',
It rotten the tip of my Bombom-bodee
And one of my Bombom-bodero.

So I went to a medico.
O, he took out a sharp scalpalito!
He cut off the tip of my Bombom-bodee
And one of my Bombom-bodero.

Now I'm a sad caballero,
Going out of Rio d'Janiero,
I'm taking with me no Bombom-bodee
And only one Bombom-bodero.