Here's an MP3 file of the Mississippi Sheiks' "I've Got Blood in My Eyes for You" (1930).
When Bob Dylan covered this song, he left out the last verse and slowed the song down to a crawl to make it more mournful (often a neat trick--my favorite use of it at the moment is the Carpenters' "Ticket to Ride"). He also ascribed its authorship to tradition rather than to the song's known writer, Bo Carter.
The story it tells is simple: the singer offers money to a woman to sleep with him; she takes the money but turns him down. The chorus, spelled out in the song title, makes the song seem more bizarre than it is, and no doubt that’s what appealed to Dylan, who, following Harry Smith’s lead, always valued weirdness when it came to old songs. Weird chorus or not, the song is a delight, especially the last verse (which I presume is the girl's answer to the singer's complaint):
There ain’t no need of gettin’ rocks in your jaws--
You ain’t gonna get none of my Santy Claus.
Why Dylan left that one off is anyone’s guess. Perhaps it just wasn’t mournful enough for him. Or perhaps, as in the terrible video he made for the song, he just didn't want to take his gloves off.