That song is probably the only place I've ever heard "jigaboo".
Unfortunately it is not, for me. I grew up with it as standard casual polite conversation, from people I loved. Also, being "Gyped" out of things, and "Jewing" somebody down, and coons and we always had Brazil nuts at Christmas, only that's not what they were called.
My family eventually learned this was not polite public conversation, but they never understood why. It wasn't at all malicious; that really didn't make it any better.