Also known as "Will Ye No Come Back Again?" and variants as well as "Bonnie Charlie" or "Bonnie Prince Charlie," this traditional Scottish song was written by Lady Nairne.
Bonnie Prince Charlie (1720-88) was the second Jacobite pretender to the thrones of Scotland, England and Ireland (as they then were), and instigated the 1745 Jacobite uprising which ended with the routing of his forces by the Duke of Cumberland at the Battle of Culloden in April 1746. After his defeat, Charles Edward Stuart escaped to France with the assistance of Flora MacDonald.
Caroline Oliphant (1766-1845, also known as Lady Nairne) was a songwriter and song collector as well as a titled lady; she wrote this as a lament for a monarch who was never to be.
Suggestion credit: Alexander Baron - London, England, for above 2