All the places mentioned exist. Ombabika is in Ontario. Obabika is a river & lake.
Below are the places mentioned in this version of the song, most of which are in North America, but a few of which are in South America:
First verse
Reno, Chicago, Fargo, Minnesota, Buffalo, Toronto, Winslow, Sarasota, Wichita, Tulsa, Ottawa, Oklahoma, Tampa, Panama, Mattawa, La Paloma, Bangor, Baltimore, Salvador, Amarillo, Tocopilla, Barranquilla and Padilla.
Second verse
Boston, Charleston (not specified whether it's Charleston, WV or Charleston, SC), Dayton, Louisiana, Washington (not specified whether it's Washington D.C. or Washington state), Houston, Kingston, Texarkana, Monterey, Ferriday, Santa Fe, Tallapoosa, Glen Rock, Black Rock, Little Rock, Oskaloosa, Tennessee, Hennessey, Chicopee, Spirit Lake, Grand Lake, Devils Lake and Crater Lake.
Third verse
Louisville, Nashville, Knoxville, Ombabika, Schefferville, Jacksonville, Waterville, Costa Rica, Richfield, Springfield, Bakersfield, Shreveport, Hackensack, Cadillac, Fond du Lac, Davenport, Idaho, Jellico, Argentina, Diamantina, Pasadena and Catalina.
Fourth verse
Pittsburgh, Parkersburg, Gravelbourg, Colorado, Ellensburg, Rexburg, Vicksburg, El Dorado, Larimore, Atmore, Haverstraw, Chatanika, Chaska, Nebraska, Alaska, Opelika, Baraboo, Waterloo, Kalamazoo, Kansas City, Sioux City, Cedar City and Dodge City.
♣