O! What are you doing,
And where are you going?
Your ponies need shoeing!
The River is flowing!
O! Tra-la-la-lally
Here down in the valley!

O! What are you seeking,
And where are you making?
The faggots are reeking!
The bannocks are baking!
O! Tril-lil-lil-lolly
The valley is jolly
Ha ha!

O! Where are you going,
With beards all a-wagging?
No knowing, no knowing
What brings Mister Baggins,
And Balin and Dwalin
Down into the valley
In June
Ha ha!

O! Will you be staying,
Or will you be flying?
Your ponies are straying!
The daylight is dying!
To fly would be folly,
To stay would be jolly!
And listen and hark
Till the end of the dark
To our tune.
Ha ha!

The dragon is withered,
His bones are now crumbled!
His armor is shivered,
His splendour is humbled!
Though sword shall be rusted
And throne and crown perish,
With strength that men trusted
And wealth that they cherish,
Here grass is still growing,
And leaves are yet swinging!
The white water is flowing,
And elves are yet singing!
Come! Tra-la-la-lally!
Come back to the valley!

The stars are far brighter
Than gems without measure,
The moon is far whiter
Than silver in treasure:
The fire is more shining
On hearth in the gloaming
Than gold won by mining,
So why so a-roaming?
O! Tra-la-la-lally!
Come back to the Valley!

O! Where are you going?
So late in returning?
The water is flowing!
The stars are all burning!
O! Whither so laden,
So sad and so dreary?
Here elf and elf-maiden
Now welcome the weary!
With tra-la-la-lally
Come back to the Valley,
Tra-la-la-lally
Fa-la-la-lally
Ha ha!