Yes, this is a hard one! Here's my current interpretation:

The Old Hat
as recorded by the Leake County Revelers

When you hear your cow a-lowing
You know it's milking time
Move back your leg old Jersey
And let your milk come down

        (Chorus)
        Gwine on down to town
        Gwine on down to town
        I'm goin' on down to Vicksburg town
        To make my banjo sound

I went up to Shoofly's house
Shoofly wasn't at home
I ate all of Shoofly's meat
And I left Shoofly the bone

The Devil stole a pumpkin
And he rolled it away to town
And the Good Lord happened to see him
And he throwed his pumpkin down

Raccoon up a simmon tree
Possum on the ground
And the possum said to the raccoon
You should shake some simmons down

Raccoon on the mainline
Possum on the switch
But the rabbit ain't no railroad man
But he's a running son of a gun


Peter