Found this on a Pete Seeger album (he said it was about 200 years old):

"Mrs. McGraw," the captain said,
"would you like to make a pirate
out of your son, Ted?
With a scarlet cloak and a great cocked hat,
Mrs. McGraw wouldn't you like that?"
With me too-rye-ay
Foddle-diddle-day
With me toorye oorye oorye-ay
With me toorye-ay
Foddle diddle day
Me toorye oorye oorye-ay

Mrs. McGraw lived on the seashore
for the length of seven long years or more
When a great big ship sailed into the bay
"It's my son Ted with his legs away."

Then up comes Ted without any legs
And in their place are two wooden pegs
She kissed him a dozen times or two
Saying "My son Ted is it really you?"
"O were you drunk or were you blind
when you left your two fine legs behind?
Or was it walking on the sea
That cut your legs from the knees away?"

"I wasn't drunk and I wasn't blind
When I left my two fine legs behind.
But a cannon ball on the fifth of May
Cut my two fine legs from the knees away."

"All foreign war, I do proclaim
Between Don John and the King of Spain
But by jaze I'll make them rue the time
They stole the legs from a son of mine."