This rhyme can be found in A History of Nursery Rhymes (1899) by Percy B. Green. Green wrote about this rhyme, "In a copy of rhyming proverbs in the British Museum, written about the year 1680, occurs the following Puritan satire on Charles II.'s changeability"...

Notes

Charles II ruled from 1660 until 1685, during a time known as the Restoration (after the Puritans ruled England under Cromwell). At the beginning of his reign Charles promised religious Dissenters freedom of conscience. But later he began to persecute them. His words did not translate into deeds.