Did anyone else sing this little ditty (to the tune of Alouette) when they were a kid?
Suffocation! Hurray for suffocation!
Suffocation! It’s so fun to play
First you take a garden hose
Then you stick it up your nose
Turn it on
Then you’re gone
Hurray!
Suffocation! Hurray for suffocation!
OK, so that’s drowning; not suffocation. It’s not important when you’re six. But that’s the way we sang it. Were there any more verses?
Suffocation, we like suffocation,
Suffocation, the game we like to play.
First you take a plastic bag,
Then you put it on your head,
Go to bed,
Wake up dead!
Suffocation, the game we like to play!
It was inspired by a commercial for the game Operation, which also used the “Alouette” tune.
I heard this, but the version I grew up with went:
Suffocation, simple suffocation
Suffocation, a game we like to play
Also, the end of every verse was punctuated with “Wheeeeee!” instead of “Hurray!” The first verse matched the one given in the OP. The second was:
Suffocation, simple suffocation
Suffocation, a game we like to play
First you take a plastic bag
Then you stick it over your head
Go to bed
Wake up dead
Wheeeeeee!
There were other verses too, but danged if I can remember them.
ETA: Beaten to it by Biffy, but I’m leaving my post anyway. 
Ah, yes! The plastic bag. I’d forgotten about that one. Thanks for reminding me.
Our, very not PC version:
Suffocation, mental retardation
Suffocation, this is how it goes-
First you take a pillow case
Then you place it on your face
Go to bed
Wake up dead
oh, oh, oh, oh
Chorus
Now you take a rubber hose
Then you stick it up your nose
Turn it on
Then you’re gone
oh, oh, oh, oh
etc.
Never heard this song before. You were all morbid, mentally disturbed children.
Seriously, whatever happened to the wholesome ballad, “Joy to the World, the Teacher’s Dead?”
Some of us are morbid, mentally disturbed ‘adults’.
We sang it:
Suffocation,
We like suffocation.
Suffocation,
So much fun to play.
First you take a plastic bag.
Then you take a rubber band.
Over the head,
Now you’re dead.
Suffocation,
So much fun to play.
Hahahaha, and now they have warnings on plastic bags. Kids are such wussies these days.
Actually, I could never even get through the song, because the line “wake up dead” always cracked me up.
I grew up with one teeny variation from what has already been mentioned. “Suffocation, jolly suffocation…”
We used to sing “Suffocation, Remco’s Suffocation…”
Remco was an actual toy company. I don’t know why their name was attached to the song, but I never heard it any other way.
"“Every Boy Wants a Remco Toy…and so do girls.”
Suffocation, lack of ventilation. Suffocation a game we like to play.
Sing this song while you’re eating,
Then you’ll choke and stop breathing
Out of air,
Life’s not fair
Oh-h-h-h
What do you mean ‘were’?
I wish I’d known this one when I was a morbid child. It’s great.
Never to late to enjoy the simple things.
Same song as Beef-a-roni, right?
I never heard it growing up, but I’m 99.5% sure I saw very similar lyrics in Matt Groening’s Life In Hell. I would have bet money that it was in one of the comics in his School Is Hell collection, but I couldn’t find it in there. I also have The Big Book of Hell, but that’s several times larger; forgive me for not looking for it in there.
Wait a second: I forgot The Big Book of Hell is indexed! Sure enough, “‘Suffocation’ song” is on page 70: part of “Kids’ Greatest Hits” from 1985. That was enough to find the comic on imgur:
(Click to embiggen.)
One slight correction. If memory serves (always a big “if”) the commercial was for Remco’s Fascination. It was a marble maze type of game, but with metal marbles, I think, that would complete a circuit and make a loud buzz if you went astray. Or maybe when you won. I don’t remember.
BTW, we substituted other “-ation” words to make off-color parodies of the commercial jingle. I seem to remember “constipation” and “masturbation.” Never heard the “suffocation” version, though. Pity. It would have been right up my alley during Boy Scout years.