This is much too common to require a description. I will therefore only
give the doggerel, which is recited by the holder of the handkerchief
as he walks around the ring:--
"I sent a letter to my love,
I carried water in my glove,
And by the way I dropped it.
I did so! I did so!
I had a little dog that said 'Bow! wow!'
I had a little cat that said 'Meow! meow!'
Shan't bite you, shan't bite you,
Shall bite you."
Throws the handkerchief, and chases the girl.