I have nothing to add, except that Agonist beat me to it.
During Gulf War I, an acquaintance of mine in elementary school took the French version (“Vive le vent, vive le vent, vive le vent d’hiver…”) and turned it into:
Vive Saddam, vive Saddam,
Vive Saddam Hussein
Qui s’en va en char d’assaut
Dans un pays voisin
(“Long live Saddam Hussein, who goes in a tank into a neighbouring country…”)
Odd child.
I always heard:
We three kings of Orient are
Trying to sell some cheap underwear
So fantastic, no elastic
Just $3.99 a pair
I only remember the first three lines of the version I heard:
Joy to the world, the school burnt down
And all the teachers died!
And what about the principal? …
not original text; words changed to correct lyrics 
We always sang:
My Bonnie has tuberculosis
My Bonnie has one rotten lung
She coughs in bloody convulsions
And dries it and sells it for gum
The Batman song varied from person to person, heard most of those growing up.
Had a guy at work sing a version of Rudolph that started out:
Leroy the Big Lipped N…r
and got worse from there.
Also Simpsons, this time Nelson Muntz
Jingle Bells:
Jingle bells, Batman smells
Robin ran away
The Batmobile lost a wheel
On the motorway
Along came Santa drinking Fanta
And gave him a ride in his sleigh - hey!
We Three Kings:
We Three Kings of Henderson Square
Selling ladies underwear
So fantastic, no elastic
Twenty-five cents a pair.
{Henderson Square was a local shopping mall}
While Shepherds Watched Their Flocks:
While shepherds washed their socks by night
All seated round the tub
A bar of Sunlight Soap came down
And they began to scrub
My Bonnie:
My mother sells frenchies to sailors
My father pricks them with a pin
My sister performs the abortions
My God, how the money rolls in!
These were all extant in NZ when I was a kid.
Mine eyes have seen the coming of the glory of the Lord
He was riding down the highway in a red and yellow Ford
With one hand on the throttle and the other on a bottle
Of Pabst Blue Ribbon Beer!
Our version was:
*Mine eyes have seen the glory of the burning of the school.
we have tortured every teacher, we have broken every rule.
We have wrecked the principal’s office and we’ve kicked her out of school,
The brats go marching on.
Glory, glory, hallelujah,
teacher hit me with a ruler.
Hit her in the bean
With a rotten tangerine
And the juice came pouring down.*
I just wanted to share this T-shirt, which I bought myself for Xmas.
http://www.threadless.com/product/356/Lost_A_Wheel#zoom
I love the looks of growing comprehension it gets in the gym, always followed by a broad smile of recognition.
Love that t-shirt! I want one!
…here’s the current version of “Jingle Bells,” courtesy of my school-age son.
Dashing through the snow,
On a pair of broken skis,
Over hills we go,
Crashing into trees!
I think I hit my head,
The snow is turning red,
I’m going to the hospital
With stitches in my head!
OOOOOhhhhh…
Jingle Bells, Batman smells, Robin had a gun,
Shot his butt to Pizza Hut in 1951!
(it doesn’t seem to bother anybody that it ends there)
I was born in 1959, so I was in elementary school when the Adam West Batman series was originally aired. I learned the “Batman smells” lyrics, but also heard this presumably older take on the tune:
Jingle Bells, Santa smells
Easter’s on the way
Oh what fun it is to ride
In a broken-down Chevrolet-ay!
Besides various takeoffs of Battle Hymn of the Republic, there was also the unauthorized version of The Marines’ Hymn:
*From the halls of Montezuma
To the shores of Bubble Gum Bay
We will fight our teachers’ battles
With spitwads, mud, and clay
First to fight for lunch and recess
And to keep our desks a mess
We are proud to claim the title of
The Teachers’ Number One Pests!*
Holy Jack, Batman! It seems the Caped Crusader is prepared.