We had something similar but it was about a Billy Goat and Buttermilk...don't ask.
I don't remember the song much at all but I DO remember bouncing on my mom's lap to it and when we got to the "don't spill the buttermilk" part is when basically you would "fall" from her lap but still holding you.
To me it sounds like the same exact thing but with different words.
Edited: Drats!! I didn't even notice this was a resurrected thread from a long time ago until I went back and started reading the rest. Oops!
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