Here's the words from the Blue Ribbon Oss website. It's the verse which starts "Oh where is Saint George"
http://www.blueribbonoss.org.uk/maysong.html

The chap with the stick (club) is the Teazer. He/she dances with the Oss, and when it "dies" he/she touches the Oss and it comes back to life. It's magic you see.

The people with red sashes are the Old Oss team - this is the original team. The Blue sashed people are the Blue Ribbon Oss team. Started I believe some time before World War 1 as a "temperance" side (not any more...), became the "Peace Oss" after WW1. Now known as the Blue Ribbon Oss. The two Osses meet round the maypole a couple of times during the day. There is at least one children's Oss too, a smaller version.

"Oss Oss Wee Oss" I suppose is an encouraging shout, also alleged to imitate a horse whinny! There are other encouragements such as "Keep 'er gain!" It's blooming hard work carrying the Oss, and a few beers may be consumed which make it even harder.

There is loads of info about May Day on the Web, but it is a must to see at least once in your life. Go with respect though - remember that it's the people of Padstow's day above everything else. Wish I was going - is it Sunday or Monday this year?