The lyrics of the song were taken from the 1890s poem of the same name by William Lawrence Chittenden.

[1] John Lomax included the lyrics to this song in his book "Cowboy Songs" (copyright 1910) with these notes: "This poem was one of the Larry Chittenden's Ranch Verses, published by GP Putnam's Sons, New York, has been set to music by cowboys and its phraseology slightly changed, as this copy will show, by oral transmission.

For instance, the first line was changed from "Way out in Western Texas, where the Clear Fork's waters flow" to "Way out in Old Nevada, where the Truckees' waters flow".

All proceeds from the song go to AIDS charities as a part of the Product Red campaign, headed by Bono and Bobby Shriver.

[2][3] It is the band's sixth annual Christmas song and was released as the lead single off their compilation EP, (RED) Christmas EP.