Hot Time In the Old Town Tonight
FIRE, FIRE, FIRE!
Silly variant:
Thanks to Janet, who emailed me a set of actions that her girls enjoy doing to this song:
After the first line when it ends with "in bed" 
(put your hands to your head like someone sleeping. ) 
After "Lantern" ( make motions like hanging a lantern on a hook.) 
After the cow kicked it over (make a kick) 
After She winked her eye ( put your palm up facing outward and close your 
fingers and touch your thumb).
After the lyrics there be a hot time (fan yourself)
After FIRE, FIRE, FIRE, we sing "Pour on water, Pour on water" (making motions 
of throwing water on a fire), singing in a high voice "Save my children save my 
children" (waving hands in the air), then in a deep voice sing "Jump Lady Jump!" 
and say also in a deep voice "Umph!" (while pulling back your fist as though you 
are pulling back on a large blanket.) 
After you sing it once...you go back and sing it but at the first word that has a motion you just do the motion and not sing the word. Keep singing but omitting a second word. Repeat until all the words that have motions are omitted.