I learned it slightly different, with "zed" and it rhymes:
ABCDEFG
HIJKLMNOP
QRS and TUV
WX and Y and Z
WX and Y and Z
Now I know the alphabet
That's good!
Or maybe we could say...
....WX,Y and "Zed"
Now that this is in my head,
it's time for me to go to bed!
Pretty bad, huh?
I think I liked yours better!