Can anybody give us background information on this song?

Here's the recording by The Corries: https://www.youtube.com/watch?v=sw7Mp63AXlQ

And by Jean Redpath: https://www.youtube.com/watch?v=dfOpdYX2wQ4

Want dance instructions? https://www.scottish-country-dancing-dictionary.com/dance-crib/bonnie-gallowa.html