The Saucy Arethusa is a nautical song (Roud # 12675) which, although usually considered 'traditional', was possibly written by 'Prince Hoare'[1], a comic opera librettist, in around 1832.
The Arethusa of the title is a frigate of the Royal Navy, named HMS Arethusa, which was captured from the French Navy in 1759. According to Greek mythology, the nymph Arethusa, for whom the ship was named, was transformed by Artemis into a fountain.
It opens
When Sir Henry Wood wrote his Fantasia on British Sea Songs in 1905 a version of this song became the third movement.
This song and the story of the ship is also the basis of a song by The Decemberists entitled "Shanty for the Arethusa".