I heard it at the weekend, at the time I was dancing around the kitchen rocking my 3wk old baby to sleep and singing the chorus.
The chorus (to me) went like this..."we're having meatballs"
(Scroll in about 46secs for the chorus)
Apparently these aren't the words of the chorus (says Mr Lisa) the lyrics are, "we're having big fun"
I much prefer the carniverous lyrics.