This rhyme is hilarious if you can imagine the picture in your mind. In Chinese culture, it's a great virtue to take everything easy and do it in a relaxed manner, especially for a young person. So we've got plenty of stories that mock people of hotheads.
zhe4 ren2 sheng1lai2 xing4zi ji2,
qing1cheng2 zao3qi3 qu4 gan3ji2.
cuo4 chuan1le lv4 bu4ku4,
dao4 qi2le yi4tou2 lv2.
This man was born of impatient disposition.
One day he rose at early morning to hurry to a fair.
He put on (his wife's) green cotton pants by mistake.
And he rode his donkey with his face toward its tail!