On Top of Spaghetti by Paul Brett Johnson.
This is great fun.  The book is based on the class song, but Johnson has created an original story to complement it.  Yodeler Jones owns a Spaghetti Emporium that is successful until a Fried Fritter Fricassee parlor opens next door.  So Jones invents the most delicious meatball ever, but then… somebody sneezes.  The illustrations are colorful and bright.  They will project well for a storytime and children will have fun joining in the sections of song.