I have no doubt that several people will post lyrics and information for the wrong song - 'Bold Orion' by Leo Kretzner, although there are several posts of it already.

I Googled for your song and found this blog entry containing the lyrics and information below. I added the formatting.

Orion
By James Zimmerman

Orion is arising
You can see his stars ablazing
Way out here in the middle of a deep blue country sky.

And still what is amazing
You can see his stars ablazing
Way out here where nothing hides it from my eyes.

And sleeping outside in a bag as a kid
It seems like the best thing that I ever did

And chasing the shadows
and the tracks in the snow
Don't you know?

The world is getting older
and I really start to wonder
why we're clouding all the country skys to gray

The world is getting colder
I can hear it in the thunder
and the rain may come and chase us all away!

And sleeping outside in a bag as a kid
It seems like the best thing that I ever did

And chasing the shadows
and the tracks in the snow
Don't you know?

The moon is on the wane
And it looks like it might rain
Or maybe snow.

And how are we to stay here
When there's no room left to play here
Or to grow
Don't you know? Don't you know?

This song was published in the 1974, 1978, 1981, and 1985 editions of the school music program Silver Burdett Music, Grade 6, published by Silver Burdett Company. "Orion" is Part 1 of a musical composition entitled Orion Suite, which was written by James Zimmerman.