Midnight Oil / Beds are burning. I didn't listen to this song for a long time, and I forgot artist, title, everything. I trie to look it up from the lyrisc I thoutght I remembered - well it took quite a while, because instead of "How do we sleep while our beds are burning" I typed "How do we dance while our pants are burning" At least, i got the burnig part right...
A childhood belief about misheard lyrics

others believed things like this
- I thought that 'burning' DVDs and CDs was literally incinerating them. — These Tunes Are FIRE!
- I used to believe that flowerbeds were beds for flowers.— Nina Green
- I used to believe that the short display beds at department stores were for dwarfs.— p
- I thought the song "Party Time" by Moby was actually saying "heart attack" (this was before I knew the title)— Elviessa
- I used to think that the title of Barry Manilow's song "Looks Like We Made It" was "Looks Like Tomatoes".— close2nd
- I thought the song "Karma Police" was actually saying "call the police" before I learned the title— Alberto Richardson