Every so often I search online for this song, which I learned at primary school from a BBC radio booklet, a bit later, like mid-80s. I figure it ought to be easier to find the words online than to find the booklet, although I probably still have it "somewhere".
Anyway, Yes! Finally! Those are the right words for one of the verses!
The only thing I can really add was that I am fairly sure the song was called The Marigold, and as others have said already on this thread there are other related songs that appear to be better known / recorded / publicised. Also that at some point in the song Bristol was called "Bristo"... And the tune is v similar to the star of the county down.
Still searching for the rest of the song.
Other songs I remember from that book (or others in the series): The Heron from Brecon, the Derby Ram.