Maybe we can tease out some more lyrics.

Here's what I harvested from the link above:

BILL JOHNSON, THE MONKEY, AND THE DAGO

Bill Johnson, he was a desperate man; he come to town one day;
And he sold a herd of cattle that he raised out in the west.
And standin', on a corner, was a dago and his monkey,
And the monkey tickled Johnson way down in his chest.

Then they passed the hat around, and Johnson put some in;
And when he found out his mistake, it was then that the trouble begin.
'Cause he thought it was a quarter, but it was a five and gold.
That's when they started in just like brave warriors of old.

Chorus:

They had it in and out, Lordy, up and down
In the alley and on the ground,
I swear I never seen such carryin' on before.
I do not know that monkey's name, but he got there just the same.
Bill Johnson, the monkey, and the dago.

Well the dago, he threw a brick at Bill; Johnson let it go past.
It hit a dutchman on the head and broke a chinaman's window glass.
Then the chinaman, he come runnin' out; imagine what he found.
Old Johnson, he'd picked up the monkey by the tail and he knocked that Dago
down.

Chorus:

Then the dago he drew a stilletto, old Johnson went for his gun;
The dutchman whipped out a razor, and the chinaman broke into a run.
He ran into a policeman, and knocked him right offa his pins.
The cop, he sent for the big patrol and they run that whole crew in.

Chorus:

People who were offended by the Taco Bell commercial probably won't like
this little song very much either, but I think it's pretty neat. As far as
I know, this song exists only in oral tradition. A friend of mine, a
retired newspaper columnist named R.C. Smith, who lives in Guilford
College, N.C., recorded this song in about 1960 at a party in Raleigh
where it was sung by an aging state employee. He and I used to sing it
together at parties in the 60s. I have the old man's name somewhere, but
can't find it at the moment. DEB

Charley Noble