Say it's only a paper moon Sailing over a cardboard sky But it wouldn't be make-believe If you believed in me Yes it's only a canvas sky Hanging over a muslin tree But it wouldn't be make-believe If you believed in me Without your love It's a honky-tonk parade Without your love It's a melody played in a penny arcade It's a Barnum and Bailey world Just as phony as it can be But it wouldn't be make-believe If you believed in me It's a honky-tonk parade It's a melody played in a penny arcade It's a Barnum and Bailey world Just as phony as it can be But it wouldn't be make-believe If you believed in me