I'm familiar with this as a sea song and I've been confused by the gloves line as well. I'd not heard the children's poem but Len Graham sings a version of the sea song that doesn't have the gloves line:

My True Love She is Beautiful

Len Graham


My true love she is beautiful, my true love she is young
Her eyes are as blue as the violets true and silvery sounds her tongue
Silvery sounds her tongue me boys (as I seen yer slay)
But she's due in a grand and a distant land, ten thousand miles away

Chorus:
Blow ye wind, hie-hoe, a-roving we will go
I'll stay no more in Erin's shore, let the music play
I'm off in the morning train, to cross the raging main
For I'm in the mood of my true love, ten thousands miles away

It was in a dark and a dismal night when first I met my Penn
She's a government band around her hand and another one round her neck
Another one round her leg, me boys (as I seen you slay)
But she's due in a grand and a distant land, ten thousand miles away

Hurrah for a gay and a gallant barque and a light and a gentle breeze
A captain too, and a jolly crew for to carry me o'er the sea
To carry me over to my true love, dressed up like a lady gay
Goodbye, says she, remember me, ten thousand miles away

And the sun shines bright in the Belfast fog and the tide is smooth and clear
May the ocean brine turn into wine if ever I see my dear
If ever I see my dear, my boys, dressed up like a lady gay
Goodbye, says she, remember me, ten thousand miles away
Radriano