Dont go swimming with Bow legged women

What does the phrase "Dont go swimming with Bow legged women" mean.

The song actually goes "Never go swimmin' with bowlegged women." The "Never" is neccessary for the meter: DA ta ta DA ta ta, etc.

Another version, from the movie Jaws -- Quint: "Here's to swimmin' with bowlegged women."
Bowlegged women would be more...accessible, I would think.

Let's just say that bow-legged wimmin have a hard time keeping their knees together - wink, wink, knudge, knudge. RRC