My Father was born in 1929 in the mountain pueblo of Singuilucan, Hidalgo, Mexico. He sang this song to us when we were kids and to the grandchildren.I always thought that it was a Spanish translation of an Indigenous song because Tecolote comes from Nahuatl language.   Some say it's a old Spanish song but Owl is Buho or Lechuza in Spanish.   Anyway , I think this song traveled north throughout New Spain during the colonial period and reached as far as New Mexico and beyond.   My Dad would tap the chorus with his knuckle on wood to provide a beat that lulled children to sleep. This song is very special to our family.