It would be a fun restaurant jingle, and the alligator part could easily be an actual menu item in N. Florida, but my first thought was it’s just a fun silly song that everyone grows up hearing some version or another of. Like a less graphic version of
Great green gobs of greasy, grimy, gopher guts
Mutilated monkey meat
Itty bitty birdie feet
All mixed up with vegitated vulture vomit
Swimming in eyeball soup (Innnnnnn eyyyyyyyye ballllllll sooooooup)