Hmmm...it's funny, I first heard the original verses to this song at a late night harper's ceilidh just last week. I had originally learned the round from a friend in college who was introducing me to Wicca (insert shocked gasps here ;)) and whenever we did a ritual we would sing the following round to the Rose Red tune:
Lady, weave your circle tight,
Spin the web of glowing light;
Earth and air and fire and water
Bind us to thee.
I rather like the sound of it, especially sung in a round. But the original words are lovely, too.