"The Marv Albert Song" joke

Walkin' Round in Women's Underwear
(to be sung to "Walkin' in a Winter Wonderland")
Lacy things - the wife is missin,
Didn't ask - her permission,
I'm wearin' her clothes,
Her silk pantyhose,
Walkin' round in women's underwear.
In the store - there's a teddy,
Little straps - like spaghetti,
It holds me so tight,
Like handcuffs at night,
Walkin' round in women's underwear.
In the office there's a guy named Marvin,
He pretends that I am Murphy Brown.
He'll say, "Are you ready?" I'll say, "Whoa, Man!"
"Let's wait until our wives are out of town!"
Later on, if you wanna,
We can dress - like Madonna,
Put on some eyeshade,
And join the parade,
Walkin' round in women's underwear!