Pippin's Song

[Firefoot]

The song you're talking about is the third verse of the song that starts Upon the hearth the fire is red, in the chapter Three is Company. All three hobbits sing it; Bilbo wrote the words. The verse is this:

Home is behind, the world ahead,
And there are many paths to tread
Through shadows to the edge of night,
Until the stars are all alight.
Then world behind and home ahead,
We'll wander back to home and bed.
Mist and twilight, cloud and shade,
Away shall fade! Away shall fade!
Fire and lamp, and meat and bread,
And then to bed! And then to bed!

Being that they sang the song as they walked along as the stars came out and "the feeling of disquiet left them," I would say this is a song sung in good cheer. It isn't on the same somber note that it was adapted to in RotK, at any rate. Part of this, I think is because in FotR this verse looks to going out on an adventure and then coming home again. It ends on a cheerier note than in movie RotK, which ends with the fading at the end of the journey.