The song follows a restless man and his wife, as he attempts to find an ever-elusive and lasting happiness pursuing various dreams and schemes, all which are ill-fated. The man's attempts at making something work include stops in at least six states: Texas, Utah, Alabama (specifically, Birmingham), Tennessee (specifically, Memphis - where the wife gave birth to their child - and later Nashville), Nebraska and finally Alaska (it is implied that during their stint there, their child died and was buried there). The man finally admits to his resigned wife that he recognizes she's tired of following him around the country and that his dreams are fleeting.
Other versions
Immediately after the Putman release, it was recorded by three different acts, a duet by David Houston & Tammy Wynette, one by Rusty Draper and another by Johnny Darrell. All four of the versions charted in 1967. Putman's version of the song made its chart debut on the chart dated for July 8, 1967, one week before the Houston-Wynette version, which went to #1 in October 1967. Draper's version peaked at #70 and Darrell's version peaked at #73
The song has been recorded by countless numbers of acts over the years, but there were two more charting versions released. In 1970, Bobby Vinton took his version of "My Elusive Dreams", which was also the title to his album of the same name, to #27 on the country charts and #46 on the pop charts.
In 1975, Charlie Rich took the song again onto the country and pop charts, this time taking it to #3 on the country charts and #49 on the pop chart.