First recorded by The Sons of the Pioneers (US #25 1941).
Other hit versions by Vaughn Monroe & the Sons of the Pioneers (US #9 1948), Frankie Laine & the Mellomen (UK #2 1955).
Also recorded by Bob Dylan & The Band (1967, released 2014), Fleetwood Mac (B-side 1982), The Replacements (B-side 1987).
From the wiki: “‘Cool Water’ was written in 1936 by Bob Nolan, a founding member of the Sons of the Pioneer, and was first recorded by his group in 1941. It briefly charted, peaking at #25 on the Hit Parade. Seven years later, the Sons of the Pioneers would re-record the song with big-band crooner Vaughn Monroe, and it would go on to become the best-selling version charting for 13 weeks on the Billboard chart, peaking at #9.