1.

Oh, Susanna

Oh, I came from Alabama with my banjo on my knee,
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2.
Oh, Susanna

Oh, I come from Alabama with my banjo on my knee,
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There seem to be many versions for the famous song "Oh, susanna." Which one is commonly sang, #1 or #2?

What is the meaning of "I come from Alabama with my banjo on my knee"?

1. I will come from Alabama with my banjo on my knee.

2. I am on the way of coming now from Alabama with my banjo on my knee.

3. Or, what else ...?

2 answers

#2 is more commonly sung, as it reflects the folksy hillbilly type of feel of the song. I have never heard #1 used. Ever.

As for the meaning,
#1 Nope.
#2 maybe, in the sense that the singer is on a trip, coming from Alabama.

#3 an ungrammatical rendering of "I have come" or "I came" indicating that the journey is over. This would be similar to

I been to the store for corn meal.
I done et dinner.
I swan, I dassn't say no to the master.
Steve is right. It means that the singer had been in Alabama (maybe was born there?), but now is wherever he/she is as he/she is singing.
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