It refers to the events of August 1969 when there were large-scale attacks in Ardoyne, a largely Catholic/Irish nationalist area in north Belfast, which saw many houses burnt out.
Well, I remember Derry, Aughrim, Enniskillen, and the Boyne, But still fresh in my memory, was the night we burnt Ardoyne,
We chased those Fenian gunmen down the Hooker Street they tore And they sang the song we loved so well, "The Sash My Father Wore".
So listen, all you Fenians, you rebels to the core, The next time you start trouble, Ardoyne will be no more.
Now loyalists I beg you, please come and take a stand Against this force of evil, against this papist band For we will be victorious, we never shall be down With Ulster's flag still flying, the red hand and the crown.