Based on the tune to Auld Lang Syne, this was written by Pat Best and recorded by the group of which he was a member, the Four Tunes. It reached No 6 in the US chart in May 1954. I think this is the best version.
June Valli took it to No 8 in America the following month.
In 1961 the G-Clefs added the words of Auld Lang Syne, which must have been a bit baffling for Americans, but it still went to No 9 there. In Britain it got to No 17.
Freddie and the Dreamers used a similar arrangement in 1964, reaching No 5 in Britain and No 36 in America. It was not quite as bad as their other hits.