I don't know anyone personally who has re-written lyrics for that song. I did a search through LMB's forums and nothing came up there either. Of course, I can't be everywhere and haven't heard everyone's full songbook of songs. But I do not recall lyrics sung to that particular song ever.
Either way, many, many people have written parody lyrics or Tolkien-esque lyrics for the exact same songs. My thinking on this is that, no one here playing (as far as I know) is Paul Simon or Art Garfunkel, and those two would be the only people who could tell you that you can't.
And because everyone is so different in their backgrounds and thinking, several people could write lyrics for the same song and they would all be different anyways. For instance, as soon as you said Mrs. Robinson, I immediately thought of the Winner of the 2019 Mrs. Hobbiton beauty pageant...