firstname.lastname@example.org (MOSCOVITCH, PHILIP C.):It was of a fair and pretty maid She was in her tender care She dearly lov'd a sailor It was true she lov'd him well And how to get to sea with him She did not like why know But she long'd to see that seaport town Call'd Canadee-i-o
email@example.com (T. Douglas Mast):
Well, I don't know of such a town. I assume it is just a perversion of "Canada." Such a far-away, mysterious place, that it might have been unclear whether it was a country or a town.
It's probably been mentioned here before, but anyway. . .Canadee-I-O was recorded by the British singer Nic Jones on his album Penguin Eggs, and Dylan's version is very similar to Jones'.