Down by the old (not the new but the old)
Mill stream (not the river but the stream),
Where I first (not the last but the first)
Met you. (Not me but you.)
With your eyes (not your ears, but your eyes)
Of blue (not green, but blue).
Dressed in ging- (not silk but ging-) -ham too. (Not one but two.)
And it was there (not here, but there),
I knew (not old, but new)
That you loved (not hate, but loved)
Me too. (Not one but two.)
You were sixteen (not seventeen, but sixteen)
My village queen! (Not the king, but the queen).
Down by the old (not the new, but the old),
Mill stream (not the river, but the stream).
Lyrics taken from http://www.lyricsmode.com/lyrics/s/sesame_street/down_by_the_old_mill_stream.html