DT link here.

The kid's version I teach and enjoy is:

Oh, will you wear white, oh my dear, oh my dear,
Will you wear white, Jenny Jenkins?
I won't wear white, 'cause the color's too bright;
I'll buy me a fol-de-rol-de-seek-a-double-roll,
Jenny Jenkins roll

Oh, will you wear (blue)(Insert color preference here)
Oh my dear, oh my dear,
Will you wear blue, Jenny Jenkins?
I won't wear blue, it's the color of my shoe OR It makes me untrue OR it looks like you (Insert rhyme here)
I'll buy me a fol-de-roll-de etc.

Make up several more verses along these lines.
Several verses later...
Oh, what will you wear, oh my dear, oh my dear
What will you wear, Jenny Jenkins?
(Dramatic pause) I've nothing to wear...
So I'll just go BARE!!!!(Pause for hysterical giggles
I'll buy me...

I know there's an ending that goes:
I'll buy me a fol-de-rol-de-seek-a-double-roll to find me

But there's something about the way this one scans that just works best for me!