The opening lyrics are as follows (the most common mention Henry and Liza):
Henry: There's a hole in my bucket, dear Liza, dear Liza, There's a hole in the bucket, dear Liza, a hole.
Liza: Well fix it dear Henry, dear Henry, dear Henry, well fix it dear Henry, dear Henry, fix it
Henry: With what shall I fix it, dear Liza, dear Liza, with what shall I fix it, dear Liza, with what?
Liza: With straw, dear Henry, dear Henry, dear Henry, with straw, dear Henry, dear Henry, with straw.
This goes on in the same format with different lines:
But the straw is too long.
Then cut it.
With what shall I cut it?
With a knife
But the knife is too blunt.
Well sharpen it
With what shall I sharpen it?
With a stone
But the stone is too dry
Then wet it
With what shall I wet it?
With the water
But where shall I get it?
In the well
With what shall I fetch it?
With the bucket
From this point on the song continues from the beginning.
hahaha!