I used to hate this song. I was a history major in college and so this song is a little perverse for me. But then I was teaching at gym and the coach there (Miss Deborah) did this song with her littles and did the second part that I had never heard before.
Ring around the rosie, (hold hands in circle and skip around)
A pocket full of posies,
Ashes, ashes, we all fall down! (sit down)
Cows are in the meadow,
Thunder,(pound the floor with hands) Lightning, (clap your hands)
We all stand up! (stand back up)
Great transition activity, social activity, ending time, gathering time, etc. I've started doing this one with ages about 18 months and up. They won't sing along yet, but they absolutely love to play.