I first heard the following rhyme in about 1995 or 1996 when I was still in Primary School (Elementary school for you yanks) in Gloucester (South-West England) although I'm sure it existed in other areas as well.
Down at fraggle rock
Grab a fraggle by his cock
Swing him round your head
Now the fraggle's dead
Grab another one
Stick a chainsaw up his bum
Turn the power on
Now the fraggle's gone!