I think Bill Cosby gave a death sentence to the "Say, what's in this drink?" version. There needs to be a revision, and it's an interesting challenge to revise the song in a way that respects its original clever, literate humor.

Here is a revision from a couple who are what I'm guessing to be millennials. I kinda like it. It's not prudish, and it's not just an attempt to censor out objectionable things like cigarettes and spiked drinks. Take a listen:

https://www.youtube.com/watch?v=amK4U4pCTB8

It's by Lydia Liza and Josiah Lemanski.

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And here's a really cute one:

https://www.youtube.com/watch?v=6bbuBubZ1yE

It's by Idina Menzel & Michael Bublé. They also edited out the objectionable parts - but in 2014, before all this kerfuffle.

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And here's one where Lady Gaga and Joseph Gordon-Levitt sing the original words on a special Lady Gaga did with the Muppets - they even included the cigarette:

https://www.youtube.com/watch?v=ZtoW4aV-CIc

I don't think that "pre-enlightened" recordings of the song should be banned, but I do think that, since the conviction of Bill Cosby, there's a need for new recordings to "re-envision" the lyrics.

-Joe-