Steve walks merrily down the street, the people wave hello

The story:

I never actually misunderstood this, I picked up the "alternate" lyric somewhere and it just cracks me up every time I think about it. It actually became a running joke in my old office and we'd toss a jaunty "Hello, Steve" to each other (even tho there was no one named Steve in the office). One of these days I'm going to re-write the whole song to fit the lyric.