Beneath the awning of the yacht?

A beauty of Sixteen,

She wears a trim tarpaulin hat,

So now you know the reason that

I call her Tarpauline.

A taut serge dress of Navy blue,

A boatswain's silver whistle, too,

She wears when she's afloat;

An open collar, and I wot,

A veritable sailor's knot