This leaves out a lot of the repetions on this lyric sheet, and I'm pretty sure a few sections are out of order compared with the recorded song.

King Ink strolls into town
He sniffs around


King Ink kicks off his stink-boot
Sand and soot and dust and dirt and
He's much bigger than you think
King Ink
King Ink, wake up, get up
Wake up, up, up, up, up, up
A bug crawls up the wall
King Ink feels like a bug
And he hates his rotten shell
Cha-cha-{10 cha's)
King Ink, get up, go forth
Wake up-what's in that room
Wake up- what's in that house?
Express thyself say something loudly
AAAAHHHH! What's in that room?
Sand and soot and dust and dirt
Dirt dirt dirt dirt dirt dirt
King Ink feels like a bug
Swimming in a soup-bowl
Oh yer! Yer! What a wonderful life
Fats Domino on the radio
[ Lyrics from: http://www.lyricsfreak.com/n/nick+cave+and+the+bad+seeds/king+ink_20100256.html ]