The parody that I know actually begins with the original chorus, then adds another couple of "verses" to that chorus:

When you wore your nightie
That little white nightie
And I wore my BVDs
First I caressed you
And then I undressed you
What a form you showed to me.

I played with your boobies
Your lily-white boobies
And down where the short hair grows
And as your kisses grew sweeter
I whipped out my peter
And whitewashed your little red rose.