I've just come across this thread as a result of searching for lyrics for a song called "Red Berets". Believe it or not, it is sung by Lonnie Donegan and is one of the additional tracks on a CD reissue of the LP "Lonnie". The track was previously unissued but is believed to be recorded in 1961. The tune is that of 'Abdul the Bulbul Amir', which isn't as bad as might be thought, with a chorus added.

If anyone is interested in the words I'll transcribe them from the CD.