Indeed. I've been fiddling around with it in my head, and I've got (among other things):

- A lady of the rose wouldn't do us any harm.
- A quest from the king wouldn't do us any harm.
- A lass on my knee wouldn't do me any harm.
- A tankard full of mead wouldn't do us any harm.
- A battle in the woods wouldn't do us any harm.
- A 20-man melee wouldn't do us any harm.

And on it goes. It's a fun song. I can't belive I'd never heard it before.