"Lizzie Andrew Borden (1860 - 1927) was an American woman who gained infamy after being tried and acquitted for the 1892 axe murders of her father and stepmother in Fall River, Massachusetts… The case was memorialized in a popular skipping-rope rhyme sung to the tune of the then-popular song 'Ta-ra-ra Boom-de-ay'." -Wikipedia
Judging by the number of YouTube videos on the internet with this rhyme, it seems it's still well-known today.
Jump Rope Song
Lizzie Borden took an axe
And gave her mother forty whacks.
When she saw what she had done,
She gave her father forty-one.
One theory mentioned on Wikipedia is that the chant was created to help sell newspapers at the time.
"My grandmother taught me the Lizzie Borden rhyme (why is this a jump rope song?!)" -Eleckra
Thanks and Acknowledgements
Thanks to Eleckra for pointing out this song!