I've always wondered too. Just been listening to it on constant repeat to try and work it out. There was a rumour at the time 'Baby' was released that it was Michael Jackson speeded up! - the very last bit sometimes sounds like "don't ever wanna ask with you". or similar. Any other ideas folks?
I'm a new user by the way - Anyone out there to give a shoutout to a newbie?!
I think the web lyrics for Rubberbandman are wrong anyway, "Shoot bang no rhyme", I'm sure is "Should I know why" and "The filthy woman tell me what I shouldn't do" I think is "If you wanna tell me what I shouldn't do" or "Everybody tell me..."
As the Rubberbandman was a "Jibbering fool" maybe it's just nonsense in the spirit of Planet Dada.