it is only a paper moon,
hanging over a cardboard sea,
but it wouldn't be make believe if you believe in me.

it is only a canvas sky,
sailing over a muslin tree,
but it wouldn't be make believe if you believe in me.

without your love,
its a honky-tonk parade.
without your love,
its a melody played on a penny arcade.

its a barnum and bailey world,
just as phony as it can be,
but it wouldn't be make believe if you believe in me.

(musical break)

without your love,
its a honky-tonk parade.
without your love,
its a melody played on a penny arcade.

its a barnum and bailey world,
just as phony as it can be,
but it wouldn't be make believe if you believe in me.