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
It's a honky-tonk parade
Without your love
It's a melody played
on 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 believe in me
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
It's a honky-tonk parade
Without your love
It's a melody played
on 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 believe in me