This note is from Hannagan & Clandillon's Songs of the Gael' which is also the source of the lyrics.

The beggars in old times in Ireland were a very well organised community, and in each district had something closely resembling a trade union for the purpose of excluding beggars from other districts. This is the 'League' alluded to. In my version the Bacach Buidhe appears to have been endeavouring to persuade a lady to join him on his travels, and holds forth at some length on the joys of the beggar's life, especially as summer approaches.

The Fiddler's Companion

Bacach Buidhe Na Leige (The Yellow Beggar of the League). O'Sullivan (1983) suggests "The League" is probably a townland of the same name in the parish of Myross, near Skibbereen, County Cork.

1. A bhacaig bhuidhe na léige, leig dod'fáidhte béil dam,
Faigh do bhean duit fhéinneach a ghéillfidh dod'shligh,
Cuir dhá mhálás téad uirthi, anuas as ceann a chéile,
'Seasamh fada réidh léi 'ge doras gach aon tighe.
Curfá:
Is teidlídléró, teidlídléró,
Teidlídléró, raidhcs fol the dee.
Teidlídléró, teidlídléró,
Teidlídléró, raidhcs fol the dee.

2. Már bacach buidhe mé féinneach, is eol dam siubhal go héadtrom,
Níl baile mór in Éirinn ná togfad mo chíos, ó Corcaigh go beinn Éadair,
'Sgo Bail-átha-cliath dtéarmai.
Baile Nuadh an Aonaigh is Béalan-átha-buidhe.
Curfá:

3. Is gairid dúinn an Samhradh, ní bhéidh orrainn an t-anngar
Gheobhmaid prátaí reamhra, leamhnacht is im,
Clóc i bhfaision Gallda, bhí'r chailínibh 'sa tseanseacht,
Broga deas a Gallda' sgan amhras stocái.
Curfá:

Is gairid dúinn an t-aonach, go ragham ag ceannach éadaig
Gheobhmaid brannda craorach, daorhphuins is fion,
Paidreacha na Éireann, sna psailm agam dá léigheamh doibh,
Sindeire gacha' bhearsa 'seadh d'éileodh mo chíos.
Curfá:

4. Do chuireas mo láimh im' phóca, ní fhuair mé ann ach féoirling,
Thugas do bhean-an-ósd'hé, mas chongnamh chum na dighe.
Chuir sí in a poc' é, síl gur gini óir é,
Bhogamar an bóthar'snach treorach d'imthigheas.
Curfá:

1. Yellow beggar of the League now, give over all your teasing,
You'll get a wife to please you, to follow on your way.
Two bags, with cords to bind them, on her back you'll sling behind her.
They'll serve as a reminder, at each door the live-long day.
Chorus:
And teidlidlairo, teidlidlairo,
Teidlidlairo, rex fol the dee.
Teidlidlairo, teidlidlairo,
Teidlidlairo, rex fol the dee.

2. Though yellow is the beggar, he's the light foot in shoe-leather,
And Ireland altogether pays him rent in yellow gold,
From Cork to Kerry's heather, and to Dublin in fine weather,
To Nenagh and Loughrea, goes the Yellow beggar bold.
Chorus:

3. Now when the summer's coming, we'll hear the wild bee humming,
Fresh milk we'll get, and butter, potatoes and beer,
A cloak in foreign fashion will clothe the beggar dashin',
And shoes so neat upon his feet, and stockings, do you hear?
Chorus:

4. We'll go off to the fair now, to see what's doing there now,
We'll drink of brandy rare there, neat punch and wine.
We'll sing both psalm and prayer there, our voices fill the air there,
And when the prayer is over, we'll take our rent and dine.
Chorus:

I called for drink this morning, when I had but a farthing,
I gave it to the ale-wife, my reckoning to pay,
She thought it was a guinea, a yellow golden guinea,
We hastened to the road, and we nobly sailed away!
Chorus: