As I was walking to my office Shay said something to me, then Chaz responded with "what did she say?". I said "yo mama". Chaz replied with "yo mama, yo daddy, yo greasy greasy granny". Then we all laughed as we tried to figure out the rest of that rhyme that we used to say as kids.
Pretty much everyone in our age group knows exactly what we're talking about.
So, we scoured the web for the actual words and stumbled upon a guy singing the first verse while playing the guitar.