I don't think there is a traditional reference in those lyrics, I think it just refers to kids collecting pine cones. We certainly did that when we were nippers and now I do it with my niece n nephew.

As for the writers, it is Mr Taupin you would need to be checking it out with as he is the wordsmith, Mr John just did the tunes (gosh, I wonder what happened to him.......Oh yeah I remember...butchered one of his own early songs for Lady Di's funeral and downhill all the way since...)