Here's the way we used to sing it when we wuz kids. We got it from my Dad:

Walkin' along the RR Track a' doin' any harm
Along came a cop and grabbed me by the arm
He took me to a little house and there he rang a bell
The next thing I knew I was sittin' in a cell.

Woke up in the morning
Looked up on the wall
The cooties and the bed bugs
were having a game of ball

The score was 6 to nothing
the Cooties were ahead
A Cootie hit a homer
and knocked me out of bed.

[And then we'd add - with a different tune]:
"Oh ain't we crazy, oh ain't we crazy
this is the way we pass the time away
'Oh ain't we crazy, oh ain't we crazy
this is the way we pass the time away."