The story as far as I can see as told locally(though I don't know if it stands up) is that the original words for the ballad were lost as was the exact tune. All that remained was the first and last lines of the first verse and fragments of the air - though Scott claimed there was another line about riding side saddle.

Alison Rutherford (married name Cockbun) according to Veitch probably wrote her version first though it wasn't published for some considerable time in 1765. It is likely that it was unknown to Jean Elliot when she wrote her version. The Rutherford version though based on the Flodden ballad is according to Veitch actually about some kind of tragedy (either financial trouble or personal tragedy within the family) in Rutherford's life. The tune which was used for this song (from some point in time) is a setting based on tha ancient air and variations published by the Scottish composer James Oswald in 1759 - according to the Selkirk Common Riding book of 1910. This is still like the Elliot version an integral part of the festival and known locally as "The Lilting"

The Elliot version, which is known locally as the Flowers Of The Forest, which is very much about the Flodden tragedy, was seemingly (again according to the Selkirk book) originally published anonymously and passed off as the original ballad until a Rev Somerville revealed who the authoress was. This too was sung to the same Oswald tune until 1836 when a William Dauney discovered the complete lost ancient air in the Skene MSS of 1602 and saw how it fitted exactly the Elliot lyric.

Though it doesn't stand up to scrutiny the legend in Selkirk is that one man (called Fletcher) was out of about 80 men who went to the battle the only local man to return. Undoubtedly a lot were killed but the records show that others survived too. Fletcher though did return with a captured English banner which he waved over his head before he himself collapsed. The flag can still be seen in the town. The flowers in the song referes to the young men and the forest refers to the area which at one time was simply known as The Forest. Ettrick Forest at one time covered much of the central Scottish Borders.