There was an old cowboy
He was rough around the edges
Still slept in the fields
With the stars for his bed

A famous old rider
From the days before fences
Western plains / Open pasture
And, horses were king

Penny-Boy was his horse
And, his constant companion
27 years together
And, still holding the rein

A stallion with spirit
Love and devotion
His head held so high
When you called out his name
Penny-Boy / Oh, Penny-Boy

Well, they grew old together
The cowboy and Penny
Living legends of history
And, memories made

But, cities grow larger
Freedoms grow smaller
We’re losing our horses
And, the old cowboy ways

On the horizon
Just beyond the sunset
The cowboy and Penny-Boy
Live out their days

Goodbye, Penny-Boy
Goodbye, Cowboy - Goodbye. . .?

This story’s about 
A song for a cowboy
And, the horse that he loved
Penny-Boy was his name

The rider was legend 
From the days before fences
Western plains / Open pasture
With stars for his bed

Goodbye, Penny-Boy
Goodbye, Cowboy
Goodbye. . .

If Horses were Cowboys
Penny-Boy would be King