Chorus:
March, march, Ettrick and Teviotdale,
Why the deil dinna ye march forward in order?
March, march, Eskdale and Liddesdale!
All the Blue Bonnets are bound for the Border.

Many a banner spread,
Flutters above your head,
Many a crest that is famous in story.
Mount and make ready then,
Sons of the mountain glen,
Fight for your King and the old Scottish Border.

Chorus

Come from the hills where your hirsels are grazing,
Come from the glens of the buck and the roe,
Come to the crag where the beacon is blazing,
Come with the buckler, the lance, and the bow.
Trumpets are sounding,
War steeds are bounding,
Stand to your arms then, and march in good order.
England shall many a day,
Tell of the bloody fray,
When the Blue Bonnets came over the Border.

Chorus

The song appears in The Monastery (1820) by Sir Walter Scott and in 19th century broadsheets. A Blue Bonnet with a white cockade was the emblem of the army of Scottish Jacobites raised by Charles Edward Stuart (Bonnie Prince Charlie). In 1745, to general panic in London, the Jacobite army reached Derby, but, badly advised and with no sign of the promised French support, Charles was forced to retreat and his army was destroyed at Culloden.
The second line may refer to the fact that the largely Presbyterian Lowlanders were not as enthusiastic about a Catholic King as their Highland compatriots.
The tune is traditional, and probably contemporary with the '45.