This short poem is described as having been written into the marigins of the Red Book. It is supposed to depict a hobbit's idea of what an elf-maiden is. A precursor of the poem, called The Princess Ni, was published in the collection Leeds University Verse 1914-24.
Errantry is a poem made by Bilbo, possibly on early days after returning from his journey. The poem is a bit nonsensical and follows a mariner. An earlier version of this poem, with the same name, was published in the Oxford Magazine the 9th November 1933. A later version of the poem is Eärendil Was a Mariner which is also by Bilbo, in The Lord of the Rings.
For the second poem in this publication, Tom is yet again the main character. This time the reader follow him on a boating trip along the Withywindle and his journey to meet Farmer Maggot. In this story we encounter familar places in Buckland and the Shire. The idea is that the events set out occured some time after Frodo and the other Hobbits visited Farmer Maggot and Tom Bombadil and that the poem is composed by Buckland hobbits.
The title character of this book is none other than Tom Bombadil, who is featured in this poem. It is supposed to reflect poetry written by/being told by Hobbits in Buckland, who would be fairly well aquaintanced with Tom Bombadil, although they might not understand him perfectly. The poem have a fairly early origin, being concieved long before Frodo and his company meet Tom.