The Farmer in the Dell

The farmer in the dell,
The farmer in the dell,
hi-ho the derry-o, the farmer in the dell

farmer: n
1.
a person who farms; person who operates a farm or cultivates land.
2.
an unsophisticated person from a rural area; yokel.

dell: n.
A small, secluded, wooded area

Since this nursery rhyme has been written many different ways, its words could actually have several different meanings.  hi-ho, with no particular meaning, could also be heigh-ho (like the seven dwarves’ heigh-ho, heigh-ho, it’s off to work we go) as an expression of greeting (such as variations used by Orson Scott Card) to convey weariness and boredom or, alternately, exultation.

Now, about Derry:

Derry mostly likely refers to the Derry county in the northwest area of Northern Ireland

 Derry county in ireland Derry County in Ireland

but it could also refer to the farmer being a dairy farmer. Or an intentional play on both words.

 Cows in a Dell Cows in a dell

cattle in a dell