Yes, now I remember - the girls would bounce the ball under their leg on the "O'Leary" part. WOW! I haven't thought about that since I was a tot! The older girls in the neighborhood used to play that game and I would watch them out the front window - wishing I was old enough to join in their game! That was a long long long time ago - as I am now 52!!
As for the "ally ally oxen free" - I think that was associated with Hide and Seek - not sure when one was supposed to yell those words.