Dead Mum, hey there you with the
Hilarious parody of the song 'Live it up' by 80s nobodys Mental As Anything.
Sung to a recently bereaved child thus: "Hey there you with the Dead Mum, go back to my place and dig her up..."
It didn't really rhyme, but it usually caused the unfortunate child to cry and/or explode in violent rage at the injustice of the universe.
written by St*art*Houg*ton, approved by Log

I'm not sure if this counts as a playground memory, seeing as how I was nearly 35 at the time it happened, but I was a teacher in Detroit, Michigan, USA, when one of my students came to me crying.
He had been "playing the dozens”, you see (a game in which you engage in singular combat making fun of one another's mother. High comedy. I still do it myself) and another player had pointed out that, "DeShaun, you're mother is so ugly she could win the Dead Momma Beauty Pageant." It turned out that DeShaun's mother was, indeed, dead.
So she could, realistically, have won this pageant. DeShuan disagreed.
written by excluded pupil, approved by Log