I googled it and its looks like an old burlesque routine which Abbott and Costello did among others.

Here is the Abbott and Costello "Niagara Falls" routine--

"Transcription of Slowly I Turned
A classic vaudeville routine as performed by Bud Abbott and Lou Costello (also known as 'Poko Moko' and 'Niagara Falls')


Bud, Lou and derelict in cell:

Derelict: I haven't always been a derelect ... (looks at Lou) ... like you.

Lou: Don't call me those kind of bad names!

Derelict: Would you like to hear my story?

Lou: No

Derelict: Very well, then I'll tell it to you

Bud: Go ahead

Derelict: (to Bud) Thank you ... many years ago my father gave me the benefit of a very good education (sad music playing) ... then .. I met her. She was beautiful ... glorious. We were married. two years later - a baby boy. I haven't seen that boy till this very day.

Lou: Did you say a little baby boy?

Derelict: Yes!

Lou: Did he have brown eyes?

Derelict: Yes he did!

Lou: And two little teeth in the front?

Derelict: (Excitedly) Yes, yes!

Lou: And black hair?

Derelict: Yes!

Lou: Daddy!

(derelict pushes Lou away)

Bud: Oh what's the matter with you? Sit still! Keep quiet. Stop interupting the man!

Lou: Well, I thought I found my father!

Bud: Quiet! (turns to derelict) - go ahead.

Derelict: Thank you. We were very happy, my little family. One morning we were seated around the breakfast table and a knock came at the door. There stood a man. He was broken in health and spirit. I bade him enter, I welcomed him into my home. I said 'make my home your home'...and he did! One day I returned from work to find that home was no longer a home. My wife ... the baby... and the stranger had fled. Then one day ... at the banks of the Poko Moko I found them. Suddenly my brain snapped. All the years of pent up emotion of years suffering welled up within me. I knew I would never be satisfied until I had my bony fingers wrapped around his throat. So with murder in my heart ... slooooooowly I turned (acting this out as he speaks, focusing on Lou), step by step, step by step I crept upon him (creeping towards Lou) and when I saw the stare in his face ... I struck and I grabbed him (Grabs Lou and starts pushing him against the wall and shouting at him)

Bud: What's the matter? Why are you interupting the man for?

Derelict: My poor friend, I'm sorry. But everytime I hear the word Poko Moko, I just want to kill!

Lou: Take it easy pal, take it easy!

Bud: See, everytime he hears that word: 'Poko Moko'

Derelict: Poko Moko!!!! OOhh, I knew I'd never be satisfied until I had his blood running between my fingers...so slowly I turned (does action) step by step, step by step I crept upon him - and when I saw the streak on his countenance I grabbed him and I couldn't help myself (throws Lou against the wall and begins beating him up) and I was going out my mind (calms down, breathless)

Lou: (takes an exaggerated boxing stance)

Bud: Stand still! What's the matter with you? The man's telling you his life's history. It's interesting.

Derelict: My poor friend! I did it again didn't I?

Bud: It's alright, it's alright

Derelict: What's happening to me?

Lou: It's not happening to you brother, it's all happening over here!

Bud: Just ... don't use that word ....

Lou: Don't ... don't ... don't ... don't. He means "Pocahontas!"

Derelict: (reacts for a second)

Lou: (stopping him) Pocahontas!!

Bud: Yes, it's alright

Lou: Sounds like Coko Moko or something

Bud: Shhh!

Derelict: Poko Moko! BBBRRRRRR...So slowly I turned! Step by step, step by step (Lou calls out for Bud in a quiet voice) ... and when I crept upon him ... I grabbed him and (again beats Lou and repeatedly slams him into the wall, then throws him across the cell to the other wall knocking his hat off)

Bud: (angrily to derelect) Just a minute ... just a minute! Now you've been getting away with murder. Enough is enough. You understand that? I've stood by and watched all this! And I've let you get away with it ... but no more! (bends down and picks up Lou's hat) - These things cost money. Be careful how you handle them!"