I am looking desperately for the story of sleeping Beauty that is a
humorous interpretation with substitue words.  It is Slipping Booty..
Her parent were " the kink and coin off her lent" All real words just
silly  NOT off color.

I haven't been able to locate your 'Slipping Booty', but you can find
some similar amusements here:

http://www.justanyone.com/allanguish.html

You may be thinking of the classic version performed by comedian
Archie Campbell of "Hee Haw" fame.  It was called "Beeping Sleuty,"
and can apparently be found on Campbell's 1966 album titled, "Have a
Laugh on Me."  See http://stevexs.tripod.com/comedy/recc/camhl.html

One was apparently on sale at eBay, but it is gone.  See
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=2576458873&category=2257

You might be able to buy the album here:
http://vinylrehab.home.mindspring.com/countryrecords2.html

I also found a "45" of the bit, available at http://www.45archive.com.
 Look at the listing at http://www.45archive.com/c1.html for "RCA
VICTOR 47 - 8658 The Drunk | Beeping Sleuty 65 NM $7.50."  See
ordering info at http://www.45archive.com/index2.html.

Check out this site:

http://groups.google.com/groups?q=%22slipping+booty%22&hl=en&lr=&ie=UTF-8&selm=5o70a2%249om%40newssvr02-int.news.prodigy.com&rnum=2