The recent request for origins of Willy and the Deep Blue Sea reminded me of my own version, which removed a lot of the pathos and was intended for young audiences. So I've just posted a video of it to Youtube at http://www.youtube.com/watch?v=dHcxKZiVyDk
and here are the lyrics, in case you want to sing along...

Deep blue sea, darling, deep blue sea 3x
It was Willy that went sailing on the deep blue sea

The wind blew strong and the waves grew high 3x
It was Willy that got tossed upon the deep blue sea                
        
Spoken: Willy had never been to sea before, and the rocking of the waves made
him seasick:

Moaned and cried, how he moaned and cried 3x
It was Willy that got seasick on the deep blue sea.

Fished for whales, how he fished for whales 3X
It was Willy caught a minnow in the deep blue sea.

Sailed back home, how he sailed back home
The fish was larger in his story when he sailed back home.