Origin of the "ay-yi-yi" song

Your grandmother swims after troopships!
So sing me another verse
Worse than the other verse
And waltz me around by my willy!

I’m sure we all know a few verses of this song, but where did it come from? Was there a Mexican original? What were the original (presumably Spanish) lyrics?

This is an utterly incomplete answer, but “Waltz me around again, Willie” is a real song. Here are the words.

I heard it:
Insert phrase here, like the one above or any insulting variation like"you’re mom likes frozen burritos")
So sing me a chorus
I’ll lick your clitoris
And waltz me around by my willy

I think we called it the “Gay cabayero”?

There once was agay caballero
an exceedingly gay caballero
who was exceedingly proud of his lomp-omp-a day and one of his lompompaderos.

Is this it?

I know, I know, I saw Tintypes!

Are you thinking of that stereotypical Spanish song? The one the Frito Bandito song is sung to? It’s called Cielito Lindo.

That’s what I was thinking.

As mentioned already, the Ay-yi-yi-yi song is definitely sung to the tune of Cielito Lindo (My Little Heaven/Sky).

No, the risque version of Gay Caballero is not sung to the tune of Cielito Lindo. I am not sure, but I believe it is sung to the same tune as the clean(er) version, a 1934 novelty song by Frank Crumit , perhaps best known for Abdul Abulbul Amir.