Say, its only a paper moon
Sailing over a cardboard sea

But it wouldnt be make-believe
If you believed in me

Yes, its only a canvas sky

Hanging over a muslin tree

But it wouldnt be make-believe
If you believed in me

Without your love

Its a honky-tonk parade

Without your love

Its a melody played in a penny arcade
Its a barnum and bailey world

Just as phony as it can be

But it wouldnt be make-believe
If you believed in me

Say, its only a paper moon

Sailing over a cardboard sea

But it wouldnt be make-believe

If you believed in me

Yes, its only a canvas sky

Hanging over a muslin tree

But it wouldnt be make-believe
If you believed in me

Without your love

Its a honky-tonk parade

Without your love

Its a melody played in a penny arcade

Its a barnum and bailey world

Just as phony as it can be

But it wouldnt be make-believe
If you believed in me