Ah, there's a lot of these
Well, there's the obvious "I'm your penis, I'm your fire, your desire". (Bananarama - Venus) Then there's my remake of Summer Nights:

It shot out, you know what I mean
Took me ages to get my arse clean
I'll never again eat Indian food
There were skid marks where I'd pooed
Summer fun, dumping a ton but oh oh the summer shites

Flush it more, flush it more
Another down the toilet I'll send
Flush it more, flush it more
Oh my poor rear end!

I sat down, I had diarrohea
It was deadly to anyone near
I felt a bit of a squelch
And my arse let out a belch
Summer bogs, dropping some logs but oh oh the summer shites

Flush it more, flush it more
What are those noises I heard?
Flush it more, flush it more
It's a massive turd

It went on longer than that, but the rest isn't as good. Then, a tribute to the world's greatest steeplejack (RIP) to the Captain Scarlet theme tune:

Captain Dibnah,
He's the one who knows the chimneys' game,
The smokestacks.
Captain Dibnah,
To his chimney foes, a dangerous name,
A steeplejack.

He bashes them, and their bricks may burn.
He smashes them, but he knows they'll return,
To smoke again.

Captain Dibnah,
As Betsy is rolling out, a massive machine,
Powered by steam,
D'you like that?

Captain Dibnah,
A big chimney is what he's never fell off,
He's famous for his bronchial cough.

Captain Dibnah,
Chimney breaking,
Captain Dibnah!

And finally, the chorus of Dancing Queen:

You'll bake a magic spleen, cook my feet, I'm-a gonna ween
Bake a spleen, I'll stick my meat in a tangerine
You're in France, in a beehive, you're Papa Lazarou's wife ohh yeah
Oooh... eat a Twirl, snot is green, baking a magic spleen.

Some people I know also did an excellent rewording of Sonne by Rammstein about a drunken old lady, but since it's all in German I doubt many people would understand it, and this post's already far too long. Apologies for length, said the Pope to the nun.
(The Worminator I have discovered that Quavers are nice, Thu 27 Jan 2005, 18:05, Reply)