Its words tell the story of Ira Hayes, one of the six marines who became famous for having raised the U.S. flag on Mount Suribachi during the Battle of Iwo Jima in World War II.
The song then introduces Hayes, who volunteers for the U.S. Marine Corps (forgetting, in La Farge's words, "the white man's greed") and participates in the raising of the flag on Iwo Jima.
Even Americans' attempts to honor Hayes are treated with contempt in La Farge's lyrics ("they let him raise the flag and lower it, like you'd throw a dog a bone.").
The most popular version is by Johnny Cash, which he recorded for the Bitter Tears concept album (containing mostly La Farge compositions) and reached number three on the Billboard Country Singles chart in 1964.
Townes Van Zandt covered this song at Carnegie Hall in 1969, during a rare television appearance, and at The Whole Coffeehouse, University of Minnesota Campus, November 9, 1973.