It is set to the music of "Auld Lang Syne", a song frequently sung on New Year's Eve.
The "Good Old Song" is most commonly sung by Virginia Cavaliers fans following sporting events.
Fans embrace as they sway back and forth, singing the first verse of the song, followed by pumping fists while screaming the chant.
They relate that the students of the Pep Band refused to abandon the song in spite of the orders, and it is thus still played today.
The university released a video in September 2019 requesting that students "Keep the 'Good Old Song' good" by refraining from using either jeer.