They are saying that. Except there’s a comma between many and cross. I checked the liner notes and there are no lyrics included, but every one of the half dozen sites I looked at gives that as the line, so either that’s it, or a lot of us have been fooled.
My favorite is one I “heard” when I was very young. “Maybe I’m just like my mother, she never sat inside…”
I also like my brother’s insistence that in Depeche Mode’s “It’s no good” that the line Don’t say you want me is I saw the monkey. 
My favorite came back when my little sister and I were riding in the car, singing along to Carly Simon’s You’re So Vain.
The line that says: You flew your Lear Jet to Nova Scotia, to see the total eclipse of the sun…
she said, loud and clear…
You flew your rear end to Nova Scotia, to see the total eclipse of the sun…
I laughed my rear end off…
To this day, I still hear the last lines of “Lola” by the Kinks
But I know what I am and I’m glad I’m a man
And so is Lola
as…
But I know what I am and what I am is a man
And so is Lola
I mean, when you listen to the song and hear the other lyrics…
Well I’m not the world’s most physical guy
But when she squeezed me tight she nearly broke my spine
…and…
Well I’m not dumb but I can’t understand
Why she walked like a woman and talked like a man
… it makes perfect sense to think that the singer got seduced by a transvestite, and didn’t learn the truth until it was too late.
Oh, and on that Peter Gabriel song. For some reason, I always heard *“Jeux sans frontieres” * as…
"She’s so f-*ing old."
I have the sheet music–it says “Our clothes are stained, we pass money, cross our people, and ask many questions, like children often do.” I never woulda guessed that. Every time I hear it, it still sounds like “cross-eyed people.”
Erm, yes, Lola is a transvestite. But I always assumed the singer is gay, and knew all along. Remember that he naver kissed a woman before, and he always wanted to be that way.
I’m definitely not a fan of Whitney Houston, but when I first heard “I’m Every Woman” I thought she was singing “Climb every woman.”
Ooh, in PSB’s “A Red-Letter Day,” I always took “The flowers in the garden, the wine” as “A thousand dollars, the wine” which completely changes the tone of the stanza.
Larry in a coma - check (except at some point I heard the name of the song announced & from that point I should have Known Better)
you & me & lesleee - check
Boy this thread is a revelation!
Here’s a couple I persistently misheard:
“Won’tcha be my four-letter woman . . .” etc. What was I thinking?
I can’t remember the artist or the song but I heard a line of it as, “Dusty diamonds wanna be wine.” Well of course they would. Actual line: “Dust be diamonds, water be wine.”
Favorite kid one: I used to wonder why we sang “O- V-I-C” at the end of “My Country Tis of Thee.” I had a friend named Vic and he heard it that way too, of course, only he was just honored (and in his 30s before he realized that was NOT what they were singing).
There was also one I used to hear that had the word “Cincinnati” in it, which I misheard as “Sunset Daddy.”
I’m convinced that John Fogerty has an accent that is regional only to wherever he happens to be standing. He’s been the source of more of my own mondegreens than any three other artists put together.
In addition to his complete butchering of “Heard It Through The Grapevine,” and the often-misheard “bathroom on the right” there’s Sweet Hitchhiker, which took me forever to figure out, because what I HEARD was “sweetie-chee-eye-gah”; Down On The Corner, which seems to have the line, “There ain’t a poor boy in the band, bringin’ nickel can’t be beat”; Proud Mary - “big wheel keep a-coin in” and Up Around The Bend - “goin’ a prize and win, we’re goin’ up a round again.”
Foreigner’s song, Hot Blooded.
When I was young I always thought they were singing…
Well, I’m hot blooded, Chicken of the Sea
I got a fever of a hundred and three
Come on baby, do you do more than dance?
I’m hot blooded, I’m hot blooded
Rocking around the Christmas Tree
Let the Christmas Spirit ring
Later we’ll have some f*in’ pie
and we’ll do some caroling
One Xmas at my sister’s house, my mom couldn’t understand why I got a case of the giggles when that song was playing. Nope, not gonna tell ya. 
That version gets zero hits on google… strange, that. To be honest, I’m inclined to think the sheet music has the typos.
A friend in high school said that one time when the marching band was playing Hot Stuff (by Donna Summer), he sang these words (loudly): “Sittin’ here gettin’ a hard on, baby, waitin’ for some lover to call.”
The real lyrics: “Sittin’ here eatin’ my heart out waiting…”
He wondered why the girls in front of him at the pep rally gave him such odd looks!
Song: “Key Largo”
Real lyric: “Wrapped around each other …”
Mondegreen: “Macaroni chowder …”
“Dust Be Diamonds” by the Incredible String Band. You mean someone actually played that on the radio at some time?
According to my nephew…
Brick House
(heard)…built like a Mack-a-ma-zon
(actually) …built like an ah-Amazon
According to a former coworker
Tubthumper by Chumbawumba
(heard) …I get no doubt, but I get off again
(actually) …I get knocked down, but I get up again.
For me, it was “in a one-horse soap and sleigh”.
My personal favorite from when I was a kid is John Mellencamp’s “Hurts So Good”, where
“Sometimes love don’t feel like it should”
became
“Sometimes love don’t fit like a shoe”
Made perfect sense to me at the time. In fact, it still does!
OK, I’m still unconvinced by this one –
Creedence Clearwater Revival’s Out My Backdoor
For years I thought the line was
“…Let’s take a ride
On the Glide-Wheel Spoon.”
What the hell is a Glide-Wheel Spoon? Is it like the Tilt-a Whirl?
Years later I heard it as :
"…Let’s take a ride
on the Glide.
We’ll Spoon"
That makes sense – you are your girl are sitting on the front-porch Glide (kinda like a swing) and you’re “spooning”.
Pepper Mill independently heard the same thing.
I mentioned this on the SDMB, and people tell me that it’s really:
"Let’s take a ride
on the Magic Spoon"
apparently referring to cocaine use.
I note that all the lyric sites on the internet give this interpretation, with zero hits for “…glide. We’ll spoon.”
But I swear that every time I listen to it, it doesn’t sound at all like “magic spoon”. Heck, that doesn’t even scan properly.
I want to see some sheet music on this. I suspect everyone on the Internet of copying from each other, with the first guy gettin’ it wrong.
And I heard “one horse soapin’ sleigh.” I pictured a sleigh pulled by a horse with all kinds of soap foam and bubbles coming out.
What a timely post. I happen to have an interpretation of what a “hollaback girl” is, right here.
I bear no responsibility tor the accuracy of the analysis. I will point out that this newspaper once offered a deconstruction of Milkshake, albeit under a different byline.
Do I have a mondegreen? As it happens, yes I do. Although I was never a big fan of disco, I did develop an earworm, listening to the Brothers Gibb wailing about:
Four-letter Woman,
four-letter woman to meee.