O it's I that am the captain of a tidy little ship
Of a ship that goes a sailing on the pond.
And my ship it keeps a turning all around and all about,
But when I'm a little older I shall find the secret out
How to send my vessel sailing on beyond.

For I mean to grow as little as the dolly on the helm
And the dolly I intend to come alive
And with him beside to help me it's a sailing I shall go,
It's a sailing on the water where the jolly breezes blow
And the vessel goes a divie divie dive.

O it's then you'll see me sailing through the rushes and the reeds
And you'll hear the water singing at the prow.
For beside the dolly sailor I'm to voyage and explore
To land upon the island where no dolly was before
And I'll fire the penny cannon on the bow!