I’ve been meaning to tab this one out since I did Ukulele de Chocobo. It has a lovely Hawaiian flavoured tune and works very well as a solo ukulele piece (even to those who have never ridden a bright yellow, overside galliforme).
It is possible – and more technically correct – to fingerpick this tune with your thumb on G, index on C, middle on E and ring on A throughout. However, I like to move everything up a string (thumb on C, index on E, middle on A) for bars like two and four.
UPDATE: ISeeDeadPixels has done an excellent video of this arrangement: