The song evolved from "Catherine Ogie" (or "Katrin Oggie", or any one of dozens of alternate spellings) which was first published by Tom D'Urfey in London a bit before 1700. It's not clear if it was a genuinely Scottish song or something written by an English songsmith (maybe D'Urfey himself) to sound Scottish - there was a fad for that at the time.

The odd thing is that this song went very much out of fashion for a long time. You don't see any version of it in most 19th century collections. The tune did a bit better - there is a very elaborate setting of it by William Marshall as "Mr Shearer of Buchromb's Strathspey" (for the fiddle, in F minor), and it was common in flute books of the 18th century.