This is the way my father sang it:

Once in China lived a man, his name was Chili Chalu Chalan.
His legs were short and his arms were long,
And this is the way he sang his song.

Chili Chalu Chalee Chali, Chili Chalu Chali Chalee,
Chili Chalu Chali Chali, Cholika Bolika Chinaman.

When he died they buried him, in a coffin long and thin,
For his legs were short and his arms were long,
And this is the way he sang his song. (Chorus)