I first asked this question almost four years ago. Now, having acquired a copy of this short, I have the lyrics:
Oh, what a PAL was [Lucy].
Let’s drink a toast [???].
Oh, what a PAL was [Lucy]
In rain of shine I love him just the same.
For we’ve been friends,
Through fair and stormy weather–
Because we went
To different schools together.
And, Oh, what a PAL was [Lucy]
From my old New Hampshire home in Tennessee.
Also, I was wrong about the singer. It’s Froggy, not Spanky. Spanky sings “Come Back to Erin,” while Robert “Mickey” Blake sings “Oh, Genevieve.”
Anyway, what’s the song? I can’t make out the name, but it sounds sorta like “Lucy,” (which is certainly wrong). Froggy is singing, and, well, it’s kinds tough.