The episode that Fred intended this song for is about building things by hand. Mister Rogers puts together a go-cart and Bob Trow shows a pulley system. Mister Rogers talks about wanting something that his parents couldn’t buy him, so he made it instead. The message he is imparting is that rather than just wishing for something, you can try to make something on your own.
It seems that these lyrics went unused not just for that episode, but for the entire run of the Neighborhood. Instead of completing and singing this song, Fred sang “I Like to Take My Time,” which became a standard Neighborhood song.