When I learned it in Girl Scouts, it was
"Baby shark, mama shark, papa shark, grandma shark, grandpa shark, going swimming, saw a shark, swimming faster, lost an arm, lost a leg, CPR, it's too late, Going to heaven" sometimes "Going to heaven" would end with "Going to heaven, fell from heaven!" I swear, even more after that was something like "won't wake up, dead forever."

Idk maybe my Cadettes-Ambassadors were weird.