The Grateful Dead did this four times in 1987 as part of Good Lovin'. It's almost impossible to transcribe (thanks to Matt Schofield for trying), so what I've done is set out the original lyrics with annotations where the Dead sang something different.
It has also been played as an instrumental (no lyrics) by Phil Lesh & Friends in 2002, and much earlier by the New Riders Of The Purple Sage (after Jerry Garcia stopped playing with them).
(1) sounds more like "necesicito" according to Matt
(2) the Dead sing something different here, and then an extra line
(3) the Dead don't sing this verse at all
Lyrics By
Ritchie Valens
Music By
Ritchie Valens
Lyrics
Para bailar la Bamba
Para bailar la Bamba
Se necesita una poca de gracia (note 1)
Una poca de gracia para mi para (note 2)
Bamba, Bamba
Bamba, Bamba
Bamba, Bamba
Bamba, Bamba
Yariba yariba (note 3)
Yariba yariba
Por ti sere, por ti sere, por ti sere
Yo no soy marinero
Yo no soy marinero
Soy capitan, soy capitan, soy capitan
Bamba, Bamba
Bamba, Bamba
Bamba, Bamba
Bamba, Bamba