Peter Kay? He seems a nice enough bloke, and very funny in some things he's done (most recently 'Car Share').
Anyway, back on topic, my own misheard was The Four Seasons' 'Let's Hang On!', where I heard 'That little chip of diamond on your hand' as 'That little chipmunk dining on your hand'.
Mrs H always thought Dylan was singing 'She can take the dog out of a night-time' in 'She Belongs To Me'.