What does Sarapen mean?

Penpen de sarapen
de kutsilyo de almasen.
Haw haw de carabao
batuten.

Sayang pula, walang pera.
Sayang puti, walang salapi.

That is a children’s rhyming chant from the Philippines. Specifically, it’s a Tagalog rhyming chant. There are different versions, but I suspect mine is slightly wrong. What can I say, it’s been years since I learned all this stuff. My brother says it’s “Sayang pula, tatlong pera” and so on, and my uncle adds the verse:

Sipit namimilipit
Gintong Pilak
Namumulaklak
Sa tabi ng DAGAT!

He also says that there are more verses that he can’t remember. But what does the rhyme mean? You got me, I only have a Grade 4 education in Tagalog. I think it’s a nonsense rhyme anyway. “Kutsilyo” is knife, “almasen” is warehouse (in Spanish), and “carabao” is water buffalo. The “sayang pula” verse makes no sense to me at all: Too bad it’s red, there’s no money, too bad it’s white, there’s no money? What is that supposed to mean? I originally remembered this as “oras pula” and “oras puti” or “red time” and “white time”, but no one else in my family remembers this version, so perhaps I just made it up.

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