There are several versions of this one:
JUNIOR BIRDMAN
Up in the air junior birdman
Up in the air upside down
Up in the air junior birdman
Keep your noses off the ground
When you hear the grand announcement
that your wings are made of tin.
Then you know that Junior Birdman,
has turned his box tops in.*
For it takes: 5 box tops,
4 bottle bottoms,
3 coupons,
2 wrappers,
and one thin dime!
The Junior Birdmen of America site link
http://home.earthlink.net/~ralphcooper/pimage38.htm seems to me the most authoritative source of information about the true beginnings of the song. Although it's possible that the song may have been featured on"Captain Video" in the 1950s, it appears to have originated in the 1930s among model aviation enthusiasts, as a parody of the Army Air Corps song "Into the Air, Army Air Corps." The Army Air Corps was the predecessor to the U.S. Air Force, and the song was altered accordingly, becoming "Into the Air, U.S. Air Force." The "Junior Birdmen" version, after having been created by airplane model-makers, was used in jest by actual aviators in World War II, and later in Air Force ROTC training. Finally it became a campfire song popular among Boy Scouts.
<message edited by Foodbme on Fri, 06/17/11 3:45 AM>