He just goes through literally anything that can kinda sorta rhyme with cancelled. If there was an extra verse, he would have gone with "Gretel and Hansel" and "colored pencils."

I'll write the next verse: My mom bought the wrong colored pencils Teacher got me reading Gretel and Hansel I'll adopt a cocker spaniel Dumb and Dumber had Jeff Daniels My cake has too many candles Ghostbusters are too hot to handle Clerks was Dante and Randall Oh no! I've just been cancelled

That sounds truly horrible