"Do-Wacka-Do" is a song, released in 1965, by American country music artist Roger Miller. The expression "do-wacka-do" is a funny way of saying "do-like-I-do".
The song expresses envy in a humorous way. The lyrics are written like a letter to a friend or possibly a former friend ("I hear tell you're doing well, good things have come to you...") with whom the singer would like to trade places ("I wish I had your good luck charm, and you hadda do-wacka-do, wacka-do, wacka-do, wacka-do, wacka-do").
From "Wikipedia" the online Encylopedia (click on pic for song) 
Do-Wacka-Do Lyrics
I hear tell you’re doin’ well,
Good thing have come to you.
I wish I had your happiness
And you had a do-wacka-do,
Wacka do, wacka-do, wacka-do.
They tell me you’re runnin’ free,
Your days are never blue.
I wish I had your good-luck charm
And you had a do-wacka-do, Wacka do, wacka-do, wacka-do, wacka-do, wacka-do.
Yeah, I see you’re goin’ down the street in your big Cadillac,
You got girls in the front, you got girls in the back,
Yeah, way in back, you got money in a sack,
Both hands on the wheel and your shoulders rared back
root-doot-doot-doot-doot, do-wah,
I hear tell you’re doin’ well,
Good things have come to you.
I wish I had your happiness
And you had a do-wacka-o,
Wacka do, wacka-do, wacka-do.
(Nonsense syllable interlude)
Yeah, I see you’re goin’ down the street in your big Cadillac,
You got girls in the front, you got girls in the back,
Yeah, way in back, you got money in a sack,
Both hands on the wheel and your shoulders rared back
root-doot-doot-doot-doot, do-wah,
I hear tell you’re doin’ well,
Good things have come to you.
I wish I had your good-luck charm
And you had a do-wacka-do,
Wacka do, wacka-do, wacka-do.
-Roger Miller
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