I used to think that the lyrics in the chorus for "Lay Down Sally" were actually "Ice Cream Salad".
My friend thought they were singing "Ghost Eraser" in the Speed Racer cartoon song. "Ghost Eraser, Ghost Eraser, Ghost Eraser, Go!"
A childhood belief about misheard lyrics

others believed things like this
- I used to believe that when your pencil ran out of eraser that if you sharpened it it would grow a new eraser— Nikkie
- I loved watching the cartoon Casper the Friendly Ghost and wondered why the Holy Ghost never got his own show.— Robert
- I thought the Holy Ghost was the ghost of the Virgin Mary.— Texas granny
- As a kid I used to believe that when you sharpened your pencil, the eraser on the pencil grew.Anon
- I thought that after the resurrection Jesus became the Holy Ghost.— Meowpossum
- If I pretend to sleep the ghost won't eat me
Anon