The German lyrics go as far back as 1781, see:

Der rote Husar

There have been many tunes married to the lyrics. The tune now known is fairly recent as has been said. Some date it to 1925.

The first verse (and no more of it) is the number one carnival hit in Cologne, sometimes called the national anthem of Cologne, though the song has no relation whatsoever to either Cologne or Carnival. But there is a carnival club in Cologne named the "Treuer Husar" and that may be the reason.

Wolfgang