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From an old English folk tune. Once in a pub outside of London Morris Dancers were doing an English version, from which this cowboy version was undoubtedly derived.
As I was out walking an' a-rambling one day;
I spied a fair couple a-making their way;
One was a lady and a fair one was she
And the other was a cowboy, and a brave one was he 
Says, "Where are you going, my pretty fair maid?"
"Just down by the river, just down by the shade,
Just down by the river, just down by the spring,
See the wild rippling water, hear the nightingale sing 
Oh they hadn't been there but an hour or so
When he drew from his satchel a fiddle and bow;
He tuned up his fiddle all on the high string,
And he played this tune over and over again 
"Oh Now," said the cowboy, "I should have been gone."
"No, no," said the pretty maid, "just play one more song.
I'd rather hear the fiddle played on the one string
Than to see the water glide, hear the nightingale sing 
Well he tuned up his fiddle and he rosined his bow;
And he played her a lecture, he played it all o'er;
He played her a lecture that made the valley ring.
"Hark Hark!" said the pretty maid. "Hear the nightingale sing 
She said, "Oh dear cowboy, will you marry me?"
"Oh no, my pretty lady, that never could be.
I have a wife in Arizona, and a lady is she;
One wife on a cow-ranch is a plenty for me 
"I'll go down to Mexico, I'll stay there one year;
I'll drink sweet wine and I'll drink a lot of beer.
If I ever return it will be in the spring,
To see the bright rippling water, hear the nightingale sing 
Come all you young maidens, take warning from me;
Never place your affections in a cowboy so free;
He'll go away and leave you like mine did me;
Leave you to rock the cradle, singing "Bye-o-babee"