Schaefer. This Is the Rain

This Is the Rain is a children's book by Lola Schaefer, with art by Jane Wattenberg, published in 2001. It is available at the Internet Archive.

Here is a YouTube read-along:

Unlike the traditional "Jack" which starts with non-rhyming lines and then shifts to rhyme, this story starts a rhyming couplet, 4-beat lines, but then the subsequent rhymes do not rhyme. Here is the couplet: 

This is the ocean, blue and vast,
that holds the rainwater from the past.

Then comes the sunshine:

This is the sunshine, hot and bright,
that warms the ocean, blue and vast...

Next comes the vapor made by the sunshine, then the clouds full of vapor, then the rain falling from the clouds, then the land that absorbs the rain, then the puddles on the wet ground.

The story is told cumulatively until we get to the puddles, and then we shift to the water which is going to run back to the sea, creating a circular chain in the end:

This is the water, seeking low ground,
that runs into ditches
that pour into creeks
that drain into rivers
that flow to the sea.
This is the sunshine, hot and bright,
that makes the vapor, moist and bright,
that fills the clouds, low and gray,
that bring rain somewhere every day.

After the end of the verses, there is an informational page about "The Water Cycle on the Planet Earth."

The art is a fun pastiche of photographs and drawings: