The lovely and talented Grit Laskin wrote this song in the late 70s as a spoof of the aforementioned"Pleasent and Delightful"
If one examines the original line: "A ring from her finger she instantly drew" it's easy to see that the line is a structural joke. A simple joke about the double meaning of "drew".The Earthshoe part is a simple hippie reference. It may as well have been "lovebeads", "Backpack", or any other part of the uniform of the day.