sorry, i don't read all instructions first time, now my variant:

$_ = $n = $ARGV[0] || 'Micah';
$k = (/^[AEIOUY]/i and $c = substr $n,0,1) || /^[^bfm]/i || '';
$_ = <<SONG;
<X>, <X>, bo-b<X-1>
Banana-fana fo-f<X-1>
Fee-fi-mo-m<X-1>
<X>! 
SONG

s/(\w)<X-1>/($k && $1) . $c . substr $n,1/eg;
s/<X>/$n/g;
print;
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