"Hey you, whaddya' see? Somethin' beautiful on that tree?"
I also heard them as follows:
"Eh, you, whaddya see? something beautiful taken a pee?"

The story:

I was singing the song aloud at the local teen club "Chops" when my now ex-girlfriend was singing the same, she sung the right lyrics, I sung the part about the tree, and a s*** load of people looked at me all weird, my g/f's and my eyes met and we laughed.