For kindly supplying that lyric for me. May I assume that, in the first quatrain, "does will" is meant to be pronounced "does'll," to rhyme with "puzzle"?
It looks to me like Cinco Paul has done a pretty good job of parodying the original Schwartz lyric while retaining its essential innocence. (Schwartz was very young himself when he wrote the original.) Thus successfully walking a double tightrope!