The Pirahnas had a vocal hit with Tom Hark in 1980, but the tune goes back a lot further. Both Ted Heath (the band leader, not the former PM) and South African band Elias and His Zig-Zag Jive Flutes (no, really) had instrumental hits with the tune back in 1958.
"The whole thing's daft, I don't know why. You have to laugh, or else you cry." :O)