I remember a version many years ago I think it was either Monty Python or "I'm sorry I'll read that again" which was announced as being from the Rolf Harris dirty song book - expurgated version. Basically the lyrics as posted by Gene but with strategic words "bleeped" out as far as I remember as follows

TWO LITTLE BOYS - had two little bleep
Each had a wooden bleep
Gaily they played - each summer day
Bleeeeps both - of course
One little chap - had a mishap
And broke off his bleep's head
Wept for his toy - then cried with joy
When he heard his brother say:

"Do you think I could leave you cryin'
When there's room on my bleep for you
Climb up here, Jack - you stop your cryin'
We'll mend up your bleep with bleep
When we grow up - we'll both be bleep
Our bleeps will not be toys
And maybe you will re- member
When we were Two Little bleeps

Long years have passed - bleep came at last
Bravely they bleeped away
Bleep roared loud and in that wild crowd
Where bleep and bleep - Joe lay
Then came a cry - a bleep dashed by
Out from the ranks of bleep
Bleeped away - to where Joe lay
Then he heard his brother say:

"Do you think I could leave you bleeping
When there's room on my bleep for two
Climb up here, Joe - we'll soon be bleepin'
To the ranks of the boys in Blue
Can't you see, Jack? I'm all a-tremble
It may be the bleep and the bleep
Or maybe because I remember
When we were Two Little BLeeeeppppppp!!!

It don't arf sound dirty. Much more entertaining than the original

Pete M

"Do you think I could leave you dyin'
When there's room on my horse for two
Climb up here, Joe - we'll soon be flyin'
To the ranks of the boys in Blue
Can't you see, Jack? I'm all a-tremble
It may be the flash and the noise
Or maybe because I remember
When we were Two Little Boys."