"The Lion in the Moon" was a deleted song that was supposed to be sung by Sarabi to Simba after he and Nala escape the hyenas.  Sarabi calms her son with a lullaby about a spirit that watches over them. This song is a tender lullaby version of "Circle of Life." 
Mufasa takes his son home. Simba, ready for sleep, has hyenas on his mind and Sarabi gets him to quiet down. Then, in the distance, he ears a hyena's yips. He jumps up, on guard. Sarabi reassures Simba that he has nothing to fear.
- This sequence was replaced with Mufasa teaching Simba about the Great Kings of the Past in the final version of the film.