Pace goes the lady, the lady, the lady. (gently bounce baby on knee)
Pace goes the lady, the lady,
Whoooa! (lean baby back)
Canter goes the gentleman, the gentleman, the gentleman. (bounce baby a little faster)
Canter goes the gentleman, the gentleman,
Whoooa! (lean baby back)
Gallop goes the huntsman, the huntsman, the huntsman. (quickly bounce baby)
Gallop goes the huntsman, the huntsman
...and then he falls into a hole. (lean baby all the way back till laying down)