There's a girl who lives down the track
  In a little shack made of timber wood
  And her clothes are all hand-me-downs
  From the folks in town who treat her so good
  Though she hasn't got a dime
  I'm so proud that she's all mine
  'cause to me she's a princess in rags
  Now her dad, he's a worn-out man
  Prayin' if he can make enough to eat
  And her mom cleans for everyone
  Till the day is done just to make ends meet
  All her wealth is in her charms
  And the sweetness of her arms
  How I love my poor princess in rags
  I know some day I'll find a way
  To take her out of this old place
  I'll work and slave, scrimp and save
  To change her rags to silk and lace
  Though it hurts and my body aches
  From the pain it takes just to set things right
  But for now I must be content
  With each moment spent in her arms each night
  She's the only girl for me
  And some day it's gotta be
  Just me and my princess in rags
  She's the only girl for me
  And some day it's gotta be
  Just me and my princess in rags