I'm Blue is sung by Miss Kitty (Madame Blueberry) in The Ballad of Little Joe. The lyrics were written by Bob Lee and the music was written by Kurt Heinecke. There is also a deleted verse that can be found as a hidden easter egg in the features menu of the DVD.
Kitty: My life is a disaster
A sea of endless pain
A picnic promising the sun
But giving only rain
So listen to my tale of woe before we bid adieu
It’s why my heart is so heavy it’s why I am so blue
Larry: (Spoken) Peanuts! Get your hot peanuts!
Kitty: Life is a joke. A trifle. A folly
Even my dog is a melon-collie
My happy days are through
That’s why I’m so blue
That’s why I’m bl-
Little Joe: (Spoken) Peanuts! Get cher hot roasted peanuts! Get ‘em while they’re hot!
Kitty: (Spoken) I’m through!
Kitty: It’s why I am so blue.
When I was five, I lost my kite.
Loved basketball, but lacked the height!
And now my favourite pants are tight.
What am I to do?
That’s why I’m blue.