A mondegreen is the mishearing or misinterpretation of a phrase as a result of near-homophony, in a way that gives it a new meaning. It most commonly is applied to a line in a poem or a lyric in a song
Three more..
Paul Young / Everytime You Go Away ... You take a piece of meat with you
Elton John / Tiny Dancer ... Not so close, I'm tryin' ta dance here
The Bee Gees / More Than A Woman ... Bald headed woman to me
A few more in this clip ;0)