Its only a paper moon,
Sailin over a cardboard sea,
But it wouldnt be make believe,
If you believed in me!

Yes, its only a canvas sky,
Hangin over a muslin tree,
But it wouldnt be make believe,
If you believed in me!

Without your love,
Its a honky-tonk parade,
Without your love,
Its a melody played in a penny arcade!

Its a Barnum and Bailey world,
Just as phoney as it can be,
But it wouldnt be make believe,
If you believed in me!

< instrumental break >

Without your love,
Its a honky-tonk parade,
Without your love,
Its a melody played in a penny arcade!

Its a Barnum and Bailey world,
Just as phoney as it can be,
But it wouldnt be make believe,
If you believed in me!

Music by Harold Arlen
with lyrics by Vincent Rose and EY Harburg