This song is sung to the tune of "Here We Go Round the Mulberry Bush". The game is played like "Ring around the Rosie".
The merry-go-round goes 'round and 'round,
The children laughed and laughed and laughed,
So many were going 'round and 'round,
That the merry-go-round collapsed.
Everyone stands in a circle holding hands. Then they sing this song and skip around in a circle. On the word "collapsed" everyone falls down, just like in the game "Ring around the Rosie".