It's only a paper moon
Sailin' over a cardboard sea
But it wouldn't be make believe
If you believed in me!

Yes, it's only a canvas sky
Hangin' over a muslin tree
But it wouldn't be make believe
If you believed in me!

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

It's a Barnum and Bailey world
Just as phoney as it can be
But it wouldn't be make believe
If you believed in me!

Instrumental break

Without your love
It's a honky-tonk parade
Without your love
It's a melody played in a penny arcade!
It's a Barnum and Bailey world
Just as phoney as it can be
But it wouldn't be make believe
If you believed in me!