I love reading this thread! My mom (may she rest in peace) taught this to us. She grew up in Brooklyn in the 40's and 50's. The version she taught us went like this:

See saw, knock at the door.
Who's there?
Grandpa.
Waddaya want?
A glass of beer.
Where's your money?
In my wallet.
Where's your wallet?
Upstairs, in my pants. Get out before I punch you in the nose!