I lived on the East Coast of the United States and we sung the song like this:

Down by the banks of the hanky-pank
Where the bullfrogs jump from bank to bank
Saying eee! Aaaah! Eee! Bop! Bop!
Skiddle diddle kernel pop

Said 1, 2, 3, 4
I pledge allegiance to the flag
Michael Jackson makes me gag
Coca-cola has no caffeine
Now we’re drinking gasoline
Gasoline is made by you
Now we’re drinking Mountain Dew
Mountain Dew fell off the mountain
Now we’re drinking from the fountain
Fountain broke, now we’re drinking
Plain, old, Diet Coke


We played this game in a large group. The person next to you would put their right hand on top of your left hand and so on until everyone was matched up. The point was to tap the person to your left’s hand. Whoever’s hand was hit when you said the last “coke” was out and then you’d start the song over again until there was two people left. Then, the two people would have one person start with their palms facing down and the other person would have their palms facing up under the other person’s hand and you would clap and switch. Whoever’s hand was hit lost or if the person on top didn’t hit the hands hand of person on the bottom lost .