There are many variants of the old horse song. My favourite comes from the singing of Jim Eldon, who in turn got it from the singing of Jimmy and Tommy Feeney.

The Old Grye Song (Poor Old Horse)

Once he was a young horse, he was a young horse in his prime;
and his master used to ride him, and he thought he was very fine.

But he's still my own, bonny sweet, who rode so many the mile;
over hedges, ditches, brooks and bridges, gates and cleared many the stile.
Poor old horse, poor old horse, oh cherry old grey.

And his legs and his irons have all gone to decay;
likewise he poor old body, it's all withered away.

Poor old horse, poor old horse, oh cherry old grey.

Once he wore the clothing of the lindsay oh so fine;
and his eyes they sparkle, and his mane it did shine.

Poor old horse, poor old horse, oh cherry old grey.

Out from the warm stable to the fields he has to go;
let it rain, hail, or sun shines, or the winds blow high and low.

Poor old horse, poor old horse, oh cherry old grey.

Oh, he's stealing all my hay, spoiling all my corn,
He's eating up the long grass that grows against the wall.

Poor old horse, poor old horse, oh cherry old grey.

They'll beat him, whip him, cut him,
Til the huntsmen let him go.
Poor old horse, poor old horse, oh cherry old grey.

*

The Derby Ram is a well travelled beast; the version I do was collected in Australia!