Dweller, I double checked it yesterday, and you can tell your friend he's definitely wrong. It kind of threw me that his proposed lyric had "she" in it, because "she" doesn't appear in the last minute or so of the song. The "she" is, in fact, "see", as in "see-saw" - the motion made by someone who is hanging by the neck (as is the subject of the song at the time). Here's the lyrics of the two lines at issue:
"See-saw, Margaret Daw, gotta swing
See-saw, knock on my door, I, I gotta swing, ah-ha-ha"
Some claim that "Margaret" is in fact "Marjorie", but either way, nothing about "she" or "ugly".
"See-saw, Margaret Daw, gotta swing
See-saw, knock on my door, I, I gotta swing, ah-ha-ha"
Some claim that "Margaret" is in fact "Marjorie", but either way, nothing about "she" or "ugly".