"Forgot they soon will be "eight" is indeed correct. It's a salute to a Blind Blake tune. He was a friend of the composer and also appeared in the movie....(!?)

Jup, the song is lifted directly from the 1958 soundtrack for "Island Women" starring the Queen "B" herself Marie Windsor (Emily Marie Bertelson, 1919 – 2000) and Vince Edwards (paging Dr. Ben Casey!) and shot on location in the Bahamas.

Vincent Martin And The Bahamians first released it c.1958 as the title track of both an Island Artist Ltd. LP and a 2xEP. Subtitled as a tribute to the calypso of Charlie Lofthouse who co-wrote the soundtrack with Simms.