A song not by Bob Dylan, but traditional: Scots, i believe. aka. Gypsy Davey and Black Jack Davy, Johnny Faa and The Gypsy Laddie. It was also performed by Woody Guthrie and Steeleye Span in recent history, part of the revival of traditional songs in popular culture. Sixties folk music benefitted greatly from all this borrowing and rebirth - traditional songs are made to be handed down.

According to Child (who would know!), it's a variant of The Wraggle, Taggle Gypsies*; a story glorifying the freedom of gypsy life over the comfortable prison of wealthy wifehood. A love story and a story of a headstrong woman.