This song is an "Awwww" song, as in, "Awwww, Winnie and Fred are so sad the girls are leaving!" It sort of soft and lullabye-y, building to a big finish where Fred is so filled with emotion, he sings over Winnie. It's pretty funny that, even in his lament, he still can't remember the princesses' names, but he sings it totally straight. The song would likely start after Winnie says "my heart has had a mind of its own", and then close the scene.

WINIFRED: Twelve little babies in desperate need of love

In truth, I never thought that I would ever be a mother

Their trusting faces turned to me, their little hands in mine

What joy to find my life has been a source of so much comfort

FRED: Twelve silly little girls left practically alone

Here has been the only life that they have ever known

And though I've rued lost solitude, it saddens me, I own,

That our twelve little princesses are going home

WINIFRED: Each one a gift to us, and though we all must part

They'll remain forever in my heart

Remember how they used to startle at a lightning storm?

FRED: Their sticky fingers on each book I ever tried to balance

WINIFRED: They way napped all in a row, so snuggly and warm

FRED: How well they took the news that they weren't getting an allowance

Twelve of my cousins' kids I could never tell apart

Will remain forever in my heart

WINIFRED I used to -

(Fred cuts her off and sings over her)

FRED: Dear little What's-Her-Face, she never asked for much

And Red, always in trouble, though of course she never caused it

They all were perfect company at dinner and such

Remember that prank Eyebrows played on Suzie-What's-It?

WINIFRED: I taught them how to do their hair and how to dance at balls

FRED: I taught them lending cash to friends is hardly ever worth it

WINIFRED: And now to think their laughter will fill someone else's halls

FRED: I hope they don't forget they're not supposed to tip the servants

Oh, destiny is now history

WINIFRED: Without them here to care for, whoever shall we be?

FRED: And every rising moon, and every setting sun

Will make me think of That One

And The Other One

WINIFRED: Twelve lovely princesses

FRED: Who charmed us from the start

WINIFRED: Will remain forever

FRED: Nameless, however

BOTH: Will remain forever in our hearts

Fred sort of whisper-sings "nameless however" as though saying something really touching. Winifred will just let him have that one, lol