It is a Newsboys song, and it is called "Breakfast".
Here are the rest of the lyrics.
Newsboys - Breakfast Lyrics
Hold the milk, put back the sugar
They are powerless to console
We’ve gathered here to sprinkle ashes
From our late friend’s cereal bowl.
Breakfast Clubbers, say the motto
That he taught us to repeat:
“You will lose it in your gym class if you wait til noon toeat”.
Back when the Chess Club, said our eggs were soft
Every Monday he’d say grace and hold our juice aloft
Oh, none of us knew his checkout time would come so soon
But before his brain stopped waving, he composed this tune:
Chorus:
WHEN THE TOAST IS BURNED
AND ALL THE MILK HAS TURNED
AND CAPTAIN CRUNCH IS WAVING FAREWELL
WHEN THE BIG ONE FINDS YOU MAY THIS SONG REMIND YOU
THAT THEY DON’T SERVE BREAFAST IN HELL
Breakfast clubbers, drop the hankies
Though to some our friend was odd,
that day he bought those pine pyjamas
His check was good with God
Those here without the lord,
How do you cope?
For this morning we don’t mourn
Like those who have no hope
Oh rise up, Fruit Loop lovers-
Sing out sweet and low
With spoons held high
We bid our brother “Cheerio!"
chorus (repeat til fade)