The song's lyrics tell of the rivalry and contest of skill between Ole Bull (named for Ole Bournemann Bull, a famous violinist) and Dan Tucker (title character of the blackface hit of the same name). The song also satirizes the low pay earned by early minstrel performers: "Ole Bull come to town one day [and] got five hundred for to play."
The lyrics of the song tell a tale of competition between Ole Bull, a violinist named after Ole Bournemann Bull, and Dan Tucker, the main character in a popular blackface musical. The song also criticizes the low wages paid to early minstrel performers: "Ole Bull came to town one day and received five hundred dollars for his performance."