There was an old woman
Type of Spiritual Experience
The symbolism here is confusing as shoe may have a different symbolic meaning to its normal one.
The Old Woman is the Mother figure as such it is similar to saying Mother Nature had a lot of offspring. The 'shoe' may thus be the Egg!
Broth is symbolically equivalent to spirit input.
Being sent to bed is a punishment - so being made physical.
A description of the experience
There was an Old Woman
There was an old woman who lived in a shoe,
She had so many children she didn't know what to do!
So she gave them some broth without any bread,
And she whipped them all soundly and sent them to bed!