Wow ! Does that bring back memories from my childhood !! The version I was told (last century and about 1/2 a century ago) was :as the old farmer said, when asked what he did in the evenings: "Sometimes I sits and thinks, and other times, I just sits."
"WHEN I WORKS
I works hard.
When I sits,
I sits loose.
And when I thinks,
I falls asleep "
I believe your version is from Winnie the Pooh by A.A. Milne.
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