I understood the words as this, as we sang it:

ching gan goly goly goly goly vacha,
ching gan go, ching gan go.
ching gan goly goly goly goly vacha,
ching gan go, ching gan go.

hayla, hayla shala, hayla shala hayla o-oh
hayla, hayla shala, hayla shala hayla oh

wally wally wally wally
umpa umpa umpa

Then the whole thing would repeat. The group would divide into sections and sing it as a round.

Reggie Miles