Titanic
(source: "The Worm Song and Other Tasty Tunes, Janet Wilson, 1993.)

Oh, they built the ship Titanic, to sail the ocean blue
And they thought they had a ship that the water wouldn't go through
But the good Lord raised His hand, said the ship would never land
It was sad when the great ship went down

Chorus:

Oh, it was sad, so sad
It was sad when the great ship went down
To the bottom of the sea
(Husbands and wives, little children lost their lives)
It was sad when the great ship went down.
Oh, they were not far from shore, when they heard a mighty roar
And the rich refused to associate with the poor
So they put them down below, where they'd be the first to go
It was sad when the great ship went down.

Thanks to Alison Inglis, who sent me the third verse to this song!

It was the middle of the night when they hit the block of ice
And they all decided that it wasn't very nice
To be stuck on a boat that wouldn't even float
It was sad when the great ship went down

Thanks to Lisa Sykes, who sent me this extra verse!

Mrs. Brown turned around just to see her husband drown
As the great Titanic made a gurgling sound
So she wraped herself in mink, just to see the great ship sink
It was sad when the great ship went down

They put the lifeboats out, on the wild and stormy sea,
And the band struck up with Nearer My God to Thee
Little children wept and cried, as the waves rolled o'er the side
It was sad when the great ship went down

The Captain stood on deck, with a teardrop in his eye
As the last boat left, he waved them all goodbye
He went down with the ship to the bottom of the sea
It was sad when the great ship went down

Oh, the moral of this story, is very plain to see
Always wear a life preserver, when you go off to sea
For the good Lord raised his hand, said the ship would never land
It was sad when the great ship went down

Even more verses! Thanks to Jackie Quenneville for this one:

Oh, the Cal-i -forn-i -a not a dozen miles away
Never heard the SOS cause the crew had hit the hay
Poor husbands and wives, little children lost their lives
It was sad when the great ship went down.

Thanks to Jennifer Howland for this verse:

They built a sister ship which they named the Mary Lou
And the top half was pink and the bottom half was blue
And they christened her with beer, and she sank right off the pier
It was sad when the great ship went down

Here's the equivalent verse that I learned:

Oh, they built another ship called the SS '92
And they thought they had a ship that the water would not go through
But the christened it with beer and it sank right off the pier
It was sad when the great ship went down

Thanks to Debra Lesiuk for this alternate chorus:

Chorus:

It was sad, so sad,
It was sad when the great ship went down
To the bottom of the sea
(Husbands and wives little children lost their lives)
It was sad when the great ship went down,
Below , KERPLUNK, it sunk, like junk
To the bottom of the sea CHUG CHUG CHUG!