Oh, it was old but it was beautiful, and its colours they were fine
It was worn at Derry, Aughrim, Enniskillen and the Boyne.
Oh, me father wore it as a youth in bygone days of yore
And it's on the Twelfth I love to wear the sash me father wore

(Now, when the Scottish nationalists stole this from Ireland it became a song about Queen Elizabeth. You see they never had a first Elizabeth in Scotland, so their point was: "How can you have a second Liz, if the first one's never been?")

Oh, nae Liz the wan, nae Lillibeth the twa,
Nae Liz shall ever be
For we'll mak oor land republican
In the Scottish breakaway!

Oh, Scotland has nae got a king
And she has nae got a queen,
For how can ye have a second Liz 
When the first wan's never been?

Oh, nae Liz the wan, nae Lillibeth the twa,
Nae Liz shall ever dae
And we'll mak oor land republican
In the Scottish breakaway!

Now, her man's called the Duke of Edinburgh
He's one of yon kilted Greeks
But I hope the wind blows his plaidie awa
For it's Lizzie wears the breeks

Oh, nae Liz the wan, nae Lizzibeth the twa,
Nae Liz shall ever dae
And we'll mak oor land republican
In the Scottish breakaway!

And her sister Meg has a bonnie pair ae legs,
But she did nae want a German or a Greek,
Peter Townsend wis her choice, but he didn't suit the boys,
So they sent him up the creek.

Oh, but Meg wis fly an she got them by an by,
Wi Tony Hyphenated-Armstrong
But behind the pomp an play, the question of the day
Wis who the [bad word] is Suzy Wong?

Oh, nae Liz the wan, nae Lillibeth the twa,
Nae Liz shall ever dae
And we'll mak oor land republican
In the Scottish breakaway!

Sae here's a health to the lion, to the bonnie rampant lion,
An' a lang streitch tae his paw
Gie a Hampdon roar an' it's oot the door 
Ta-ta tae Chairlie's maw

Oh, nae Liz the wan, nae Lillibeth the twa,
Nae Liz shall ever dae
And we'll mak oor land republican
In the Scottish breakaway!