Popular cover versions of this song include a 1968 rendition by The Animals, which hit #35 in the UK, and a 1980 recording by Wall of Voodoo on their first album. Stan Ridgway of Wall of Voodoo
told Songfacts: "I used to play Johnny Cash music as a teenager. I grew up with a lot of it. My dad had a big collection of Johnny Cash and all kinds of country western stuff. And as I got older I got into jazz and all kinds of stuff. There's good music, and there's not-so-good music. So a lot of the labels and things like that are really just that: labels.
The song came about with me f--king around with this Moog synthesizer that we had that was brand new at that point. And out came this crazy kind of throbbing sound. And I knew that we needed to assign some sort of idea to it immediately or we'd lose the whole idea, we wouldn't know what was going on. So I had to think to myself, 'Quick, quick, what's a three-chord song that's a good song?' I thought, 'Ring of Fire.' So I sang it over that and then moved my hand and it kind of worked. We made a quick little demo of it, and from there it grew. I do think 'Ring of Fire' is an excellent cover."