We sang this in grade school, and, there was no mention of "weed". The sanitized version we sang went:

Here's a tune and quite a gay one
Down in Mexico it greets us
When the street musicians play it
This will be the song that greets us

LaCucuarach etc
Paid for dancing in the street
LaCucaracha etc
Sing the chorus then repeat.

Fortunatly, I don't remember any more of it.