This song is in Romany, i.e the language of the Gypsies, because it's a Gypsy song.
"Ederlezi" is what they call the day of St. George. Roma worship him.
By the way, this thread shouldn't be here, as the language has nothing to do with Slavic ones.
Anyway, translated, it means something like:
All of the Gypsies, daddy, they sacrifice the sheep, but me, poor drummer,
I must watch from afar. Oh yes, mummy, this is our feast
This is our feast, Ederlezi… Daddy, a sheep for us.
All of the Gypsies, mummy, they sacrifice the sheep, and all of the gypsies, daddy,
Daddy, all of the gypsies, mummy, all of the Gypsies. All of the Gypsies, daddy, daddy
Ederlezi, Ederlezi, all of the Gypsies, mummy