Round and round the garden, like a teddy bear
One step, two step, tickle her under there
I learned this rhyme when I was very young, around three years old from my first nanny who was British but lived in the United States with me and my family. Whenever I was getting restless or was bored, which was often considering how young I was, my nanny would sit me down and say this rhyme. This rhyme was performed in a certain way however. She would sit me in her lap and I would give her my right or left palm face up. She would then recite the words in a sort of sing-song voice while drawing an imaginary circle around my palm. Then when she said one step, two step she would slowly crawl her fingers up my arm and then tickle me under my arm. It would always result in me laughing hysterically and then asking her to do it over and over again.
She told me that this was strictly a childrens rhyme and was taught to her by her mother. While I have never heard of anyone else using this rhyme or found anyone that has heard it, I believe that this was probably a rhyme more popular in England, where my nanny was originally from, and was used in order to entertain children in a very easy, childish way. I am not sure where else this rhyme would be used other than around children although I do think it necessary for their to be an adult to recite the poem in order to have the same affect it does.
I believe this childrens rhyme, while no real significant meaning may come out of it, is important nonetheless because it was apart of my childhood and I will always remember being comforted by hearing that rhyme. To me, it was a special rhyme just shared between me and my nanny and even though I had one other nanny try this rhyme with me, it did not hold its same meaning because the way my previous nanny had done it was the original way I had learned it and thus had special meaning for me.