Here is another song from my childhood from the same vein as "On Top of Old Smokey," as it also incorporates an anti-school theme.

Deck the Halls with Gasoline (to the tune of the Christmas song Deck the Halls)

Deck the halls with gasoline
Fa lalalala lala lala
Light a match and watch it gleam
Fa lalalala lala lala

Watch the school burn down to ashes
Fa lala lalala la la la

Aren't you glad you played with matches?
Fa lalalala lala lala


I think this song might be from an episode of the Simpson's, but I am unsure.