Bob Wills version of "Goodbye Liza Jane" grew out of a 19th century blackface minstrel song of the same name published in 1871 by an otherwise unknown composer by the name of Eddie Fox. The sheet music can be seen here in a scan of the Library of Congress's copy.

There's an argument that the song existed before in a relatively wordless version - a Civil War Era fiddle tune whose only lyric was the chorus "Goodbye Liza Jane" over and over - but I can't find much evidence for this.

The reason this might be important is that blackface performers took the song and basically turned it into an excuse to improv musically and lyrically. More often than not, these songs would sound like "Goodbye Liza Jane" and would mention her name, but they were otherwise full of nonsense lyrics. Sometimes these tune got new names. One of the earliest recorded examples of this is African-American black musician George W. Johnson's unfortunately entitled "The Laughing Coon" recorded for Edison 1897, which starts off as "Good Bye Liza Jane" and then takes off into Edward Lear territory before the first verse is over. Other versions would keep the name, becoming one of a vast army of Liza Jane tunes.

By the time Wills would have learned the tune, there would literally hundreds of versions to chose from and he would have been aware that most versions were the product of people improvising music and lyrics on the spot and recording them later.

This is pretty common - there are more versions of Stagger Lee's shoot out with Billy than there are Kennedy assassination theories and tons of John Henry's never even see a steam drill, let alone compete with one.