I personally like Twinkle Twinkle Little Star better, but there's seems to be more meaning in Ring Around The Roise. Listen and read the lyrics, you might know what I mean.

Ring around the Rosie.

Pocket full of posies. Ashes, Ashes. We all fall down!

Ring around the Rosie. What do you suppose we can do to fight the darkness in which we drown?

Ring around the Rosie. This evil thing it knows me. Lost ghosts surround me. I can't fall down!

The first segment of the song could represent survivors, who are now necromorphs. "We all fall down", could mean their death and transformation into necromorphs. The second segment could represent a survivor asking Isaac for advice. "What do you suppose we can do to fight the darkness..." The last part of the song could represent Isaac. It sounds like he could be talking to himself. " This evil thing, it knows me. (Maybe hinting, Nicole?) Lost ghosts surround me. I can't fall down!" This could be Isaac motivation to NOT DIE.