The version I remember from my rugby playing days:

Way down Alabama where the cow dung lies thick,
The girls are so pretty that babies come quick.
There lives Carolina the girl I adore.
Carolina, Carolina, the cow-punchers' whore.

She's randy, she's bandy, she shags in the street.
If ever you meet her, she's always 'on heat'.
If you leave your flies open she's after your 'meat'.
And the smell of her c*** knocks strong men off their feet.