Mondegreen

A mondegreen is the mishearing or misinterpretation of a phrase as a result of near-homophony, in a way that gives it a new meaning. Mondegreens are most often created by a person listening to a poem or a song; the listener, being unable to clearly hear a lyric, substitutes words that sound similar, and make some kind of sense. American writer Syl...
Found on http://en.wikipedia.org/wiki/Mondegreen

mondegreen

mondegreen A series of words that result from the mishearing or misinterpretation of a statement or song lyric; for example, 'I led the pigeons to the flag' for 'I pledge allegiance to the flag.' The term mondegreen; representing a series of words resulting from the mishearing of a statement or song lyric, is generally attributed to Sylvia Wright,...
Found on http://www.wordinfo.info/words/index/info/view_unit/3347/
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