I'm almost sorry to have found this. The chorus was regarded as one of our family songs that seem to have started with my grandfather and passed down by word of mouth through the generations. Our version goes:

Mr. Baggy Breeches, I love you.
If you'll come and be my Sunday fellow
I'll patch them with purple, with pink and with yellow,
And folks will say, as we sit on the old sea wall
Jak's been patching his breeches, 'til he's got no breeches at all!

Ah-ah ah-ah ah-ah,
Patches big, patches small,
Ah-ah ah-ah ah-ah,
'Til he's got no breeches at all!

I'm sure we haven't got the tune quite right either - such is the aural/oral tradition!

I've never known anyone else that knew this song and while it's a delight to see that other people love it, having to admit that my father and grandfather might have got bits wrong could shake the family to its foundations! :-)