Say, its only a paper moon

Sailing over a cardboard sea

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.