This is the version I know, a repeat-after-me drinking chant:

I knew a Lady in Red, (x2)        
And I fucked her 'till she bled! (x2)                                
I knew a Lady in Red, (x2)                        
And I fucked her 'till she bled! (x2)                         

Chorus:                
Singing Ooooooh-dee-oh (x2)                         
Singing Oh-dee-fuckin'-oh! (x2)                         
Woah-oh! (x2)                         
Woah-oh! (x2)                         
Singing Oh-dee-oh-dee-oh... (x2)                          


Beyond the first verse, there are never any fixed verses, with the song continuing on for however long people are able to come up with new rhymes. It's never the same thing twice, and everytime we sing it I still see guys come up with new verses I've never heard before.


Common Verses:

I knew a Lady in Pink,
and she takes it in the stink!
...

I knew a Lady in Green,
and I fucked her in the spleen!
...

I knew a Lady in Plaid,
and I fucked her with her dad!
...

etc, etc.