As my husband is French, that means baby owl is French too, and so I had to learn lots of French songs to croon to him, especially when he was newborn and couldn't do much other than listen and look.
Now he's a 14 month-old toddler and is racing around everywhere, singing is not the main focus of our day anymore, but I still sing to him.
This song is one of my favourite French lullabies for little ones. Of course it would appeal to me that it is about an owl (and a cuckoo) and has a lovely "oo oo" sound in it!
The lyrics mean: In the distant forest, we hear the cuckoo; from the top of his tall oak he replies to the owl: hello owl, hello owl, hello owl! (There is a cute pun because "coucou" means "cuckoo" and "hi" in French).
It's a shame about some of the sillier elements of the animation accompanying this version!