[Instrumental Intro]

[Verse 1]
Say, it's only a paper moon
Sailing over a cardboard sea
But it wouldn't be make-believe
If you believed in me

[Verse 2]
Yes, it's only a canvas sky
Hanging over a muslin tree
But it wouldn't be make-believe
If you believed in me

[Interlude]
Without your love
It's a honky-tonk parade
Without your love
It's a melody played in a penny arcade

[Verse 3]
It's a Barnum & Bailey world
Just as phony as it can be
But it wouldn't be make-believe
If you believed in me
[Instrumental Outro]