Four lines about an old woman who lives under a hill and, so far as anyone knows, lives there still. A tiny bit of nonsense with a shrug for an ending.
From Mother Goose / Nursery Rhymes (traditional). See the whole collection.
There was an old woman
Lived under a hill;
And if she's not gone,
She lives there still.
About this rhyme
Text matches exactly, four lines: lived under a hill, if she's not gone she lives there still.
Four short lines that barely tell a story at all: an old woman lives under a hill, and if she hasn't moved, she's living there still. That last twist, present tense and always true, is the entire trick of the rhyme. It's less a story than a small joke about time, technically correct no matter when you read it.
Public domain. Text from The Real Mother Goose (Blanche Fisher Wright, 1916), via Project Gutenberg. View the source edition