It has this phrasing in it (we think!): 
"It's d'lightful, it's d'electible, it's d'lovely, it's d'elicious"
Could it be a commercial from the Groucho Marx Show or is it from a
musical? What are all the words and from where to they come?  We just
can't remember!

Hi bella_aria:

Thanks for the interesting question!

The lyrics you are remembering are from the Cole Porter Broadway
musical "Anything Goes". The song in question is called "It's
De-Lovely" and starts like this:

"The night is young, the skies are clear 
So if you want to go walking, dear, 
It's delightful, it's delicious, it's de-lovely. 
I understand the reason why 
You're sentimental, 'cause so am I, 
It's delightful, it's delicious, it's de-lovely."

The complete lyrics to all the songs can be found at: 

Anything Goes
URL: http://www.geocities.com/Broadway/Balcony/5705/Anything.html

"It's De-Lovely is the 10th song. 

Hope this helps.

websearcher-ga

Search Strategy (on Google): 

"anything goes" lyrics

Well, you solved the mystery.  Thanks!