How about that old classic, the U-G-L-Y cheer?
As you say the 4 letters, shape them with your hands (for a capital G, curve one hand around like a "C" while the other hand is a short vertical line pointing up). It goes like this:
U! (pause)
G! (pause)
L! (pause)
Y! (pause)
You ain't got no a - li - bi!
You UGLY! (pause)
Hey! Hey! Hey!
You UGLY!
Misc. notes: During the "alibi" line, cup hands around mouth. During both of the "You UGLY!" lines, point twice at them with exaggerated hand swings. During the "Hey Hey Hey!" line, clap on the offbeats while you slowly spin around once - you should get 3 claps in.
Practice it in front of a mirror a few times. It's very rhythmic, with 13 beats and 13 offbeats (beats are on U! G! L! Y! You got al bi UG (pause) Hey Hey UG)
Believe me, it's hilarious!