Ice blossom, you translated the line correctly. For those who are much younger than us, the word "does" is the plural of the word for female deer, doe. The song was popular when my older sister was away at college in the mid 40's. I was only a child just starting grade school when my sister taught it to me. I think someone had to tell me the meaning. I don't remember figuring it out on my own. My sis was 11 years older than me and has been in heaven for 10 years now. Mother lost two children at birth, hence the reason for the age gap.