Ladybug, ladybug fly away home,
Your house is on fire and your children are gone,
All except one,
And her name is Ann,
And she hid under the baking pan.
Ladybugs (or ladybirds as they are called in Britain) symbolize luck. It is believed that killing this insect would bring bad luck—it must go unharmed. Seeing it, or even more, when it lands on a person, means granting of wishes, luck in finances, good weather etc.
Ladybug is also connected with the Virgin Mary, the mother of Jesus. The black spots on the insect correspond to the seven sorrows of Our Lady. Ladybug is known to be a very valuable aid for farmers, as it eats harmful pests. This role is said to be given to it by the Virgin Mary who sent it to help the faithful to protect their yield—the fact which gave the insects its name.
It was a custom of burning the remaining straw on the fields after the harvest as a precaution against harmful insects and weed. The ladybugs are clever enough to realize what is happening, and they leave the burning field en masse—to come back when the next crop is growing. The nursery rhyme is either inspired by this migration, or is meant as a friendly recommendation to leave before the flames come.