Funnily enough I was thinking about the song only yesterday. I finally realised that when he said "Do you want it pasteurised?" she thought he said "Do you want it past your eyes?"!
Incidentally there was a live studio version of the song in which he dressed as a cowboy and has never been repeated on television. Rumour has it Benny was sued by Frank Gallop for copying Irving: The Hundred and Forty-Second Fastest Gun in the West and as part of the settlement Benny agreed never to perform the song again.
I'm not 100% certain this is the version I saw either: