This is a fun greeting song that is in 6/8 and has a hand clapping component to the song, but I think it could also work well with all sorts of other instruments.
No- I can accept 12/8- that's how I feel it. I can accept 4/4 or 2/4 with a lot of triplets- but I can't accept 3/4. It's way too fast. Each beat in 6/8 would turn into an entire measure in 3/4, turning our melody with 16 measures into something with 32 measures. But it could be possible, and 3/4 is a valid possibility- but that's the nature of time signatures- there are actually a lot of different ways you can count it- the question then becomes which way is the best.