Version 1:

Up above the streets and houses
Rainbow flying high
Bungle sticks his bum out the window
And craps in Geoffrey's eye

Version 2:

Zippy and Bungle were in the jungle
Having a lot of fun
Zippy got silly and got out his willy
And stuck it up Bungle's bum

Version 3:

Up above the streets and houses
Geoffrey flying high
Opened up his hairy arse
and shat in Bungle's eye

Version 4:

Up above the streets and houses
Geoffrey's flying low
When he sees Rod and Jane
His dick begins to grow

Version 5 (The Anatomically Incorrect Version):

Up above the streets and houses
Geoffrey flying high
Opened up his hairy crack
And pissed into the sky

(Good argument for earlier biology awareness!)

Version 6:

In the jungle with George & Bungle
Zippy's Having Fun
Geoffrey's Swimming With Naked Women
And Yo u Can See His Bum

Don't Be Silly
It's Just His Willy
Reflecting In The Sun