John Hartford (I never heard of him going by the name "Johnny") recorded CUCKOO'S NEST on his album "Me Oh My, How the Time Does Fly: A John Hartford Anthology," 1982. John Hartford wrote the lyrics to the traditional tune.

I heard these lyrics in a sound sample:

Dream a dream a dream of you
A tiny dancer in a field of blue
A pointed toe …
Bendin' … so lowly
It's your raven hair that makes me mad
Your insane eyes that make me sad
A California feelin' and a Mississippi smile
That makes me come on slowly.

It's tryin' to be real cool and soft
So …

Yonder Mountain String Band also recorded Hartford's lyrics, under the title COO COO'S NEST, on their album "Mountain Tracks, Vol. 3," but the lyrics aren't the same. I found these lyrics at http://parolesmania.fr/paroles/yonder-mountain-string-band/cuckoo's-nes.html and corrected them a bit based on my hearing of another sound sample.

Dream a little dream o' you
With your golden hair and your eyes so blue
Li-like a song Tchaikovsky plays
It makes me come on slowly

Raven hair that makes me mad
It's your insane smile that makes me glad
It's the California dreamin' and the Mississippi smile
That makes me come on slowly.

Tryin' to be real cool and soft
Won't take a chance o' turnin' you off
Watchin' how you operate when the chips are down
That makes me come on slowly.

It isn't that I wanna wanna make it all come true
Baby if I had a chance to be in love with you
Watchin' how you're operating when the chips are down
That makes me come on slowly.