The song features yodelling and a somewhat 1920s style lyrics and music. Perhaps surprisingly, the structure of the song is a twelve-bar blues.
According to Radio Caroline DJ Andy Archer, the song was the last to be played on Radio Caroline South on the night of March 2-3 1968, before its radio ship (like that of its sister station Radio Caroline North) was towed into harbour over unpaid debts on the morning of March 3.
Sources
Mark Steyn, Cinderella Rockefella: Song of the Week