Following the introduction of the song Champagne Charlie by Leybourne in 1867, Vance responded with Cliquot, Cliquot*. The two performers subsequently sang a series of other songs about drinking, culminating in Vance's Beautiful Beer.
The 1944 film Champagne Charlie features two songs, Ale, Old Ale and Arf of Arf of Arf, which were perhaps also part of this series.
Possibly the lines quoted are taken from the Vance/Leybourne drinking songs. Does anybody know?
*Veuve Clicquot is a make of champagne