If you can remember hearing this song, then you are not young anymore! I believe it was released in 1958 and reached “No.1” in the US, and “No.2” in the UK. According to Wikipedia, it had an interesting life after The Teddy Bears had recorded it, in that it was recorded (albeit with a few word changes) by:
Dodie Stevens in 1961; Nancy Sinatra in 1962; The Shirelles in 1964; Peter & Gordon in 1965; Bobby Vinton in 1969; Jody Miller in 1972; Gary Glitter in 1973; Steeleye Span in 1974; David Bromberg in 1978; Dolly Parton/Linda Ronstadt/Emmylou Harris in 1987 (as a trio); The Beatles recorded it a number times from 1962, until eventually released in 1994 and (believe it or not), quite a few others!
I think we can conclude that it was a very successful song!