According to the musical score, the song comes from Nikos Chatziapostolou’s - Giannis Prineas’ operetta "Apachides ton Athinon", which premiered on 19/8/1921 at the "Alhambra" theater by the Fotis Samartzis troupe.

On the occasion of the upcoming celebration of the completion of 30 years of Giannis Prineas’ theatrical activity, Giannis Sideris writes about the operetta and libretto (see newspaper "Ta paraskinia" (1st year', issue 49, Saturday 22.4.1939, page 5 & 7, "Oi Apachides ton Athinon"):

"[...] During the summer of 1915 [premiere 22.5.1915], Mr. Zachos Thanos’ troupe, who had previously made a big hit with the play 'Skoupa', which he and Mr. Prineas had wrote and starred in, was performing at the 'Laou' Theater. He also staged a musical ethography, which was quite successful, with Lykourgos Kalapothakis and Eirini Vasilaki, who are both now deceased, as well as with Mr. Z. Thanos and Mr. Mimis Xydis.

The musical ethography was called 'Prigkips Gkagkaris', and the libretto was written by Mr. Prineas [the music was set by Spyridon Lepeniotis]. During that summer, Mr. Prineas was part of the Kyveli’s troupe, whic was performing at the old theater, which no longer exists.
Around 1880, those so-called 'fictional' plays, that is, the adventurous ones, e.g. 'Iosias o aktofylax', 'Komis tou Agiou Germanou' and many more, were introduced in the Greek theater.

At the Orpheus Theater, near where Mrs. Andreadis’ summer theater was located, many similar plays were staged by the Tavoularis brothers' troupe 'Menandros'.
On September 1, 1880, a play by Bulwer-Lytton, the author who had written "Richelieu", the famous creation of Lekatsas, was staged.

This play was called "I Despoina tis Lyon" ("The Lady of Lyons") and was translated by N. Damiralis. Its author wrote it in 1838 and the 'Menandros' troupe performed it twice. The play was also known as 'Love and Pride'. 'I Despoina tis Lyon' ('The Lady of Lyons') was published by the 'Theatriki Vivliothiki' magazine in Constantinople (Istanbul), in 1882.

A rich man persuades a poor man to disguise himself as a foreign prince in order to trick the rich woman who scorned him and who with her father's money despises everyone into marrying him. The play is very good and very romantic. [...]

Thus, having in mind the audience of the 'Laou' Theater, which at that time had a more popular character even when Athenian aristocrats frequented it, Mr. Prineas decided to adapt this play to Greek reality and the title was changed to 'Prigkips Gkagkaris' from 'I Despoina tis Lyon' ('The Lady of Lyons').

But let no one think that this is just an adaptation. Bulwer-Lytton's main character was just the pretext; Mr. Prineas set himself free and, based on the capabilities of the troupe that would perform it (whose protagonist Mr. Z. Thanos used to play the characters of the 'magkes'), created two wonderful comical characters who were not part of the original play 'I Despoina tis Lyon' ('The Lady of Lyons'). These two characters were called Charoupis and Fytilis.

In 1921, Mr. Prineas came to an agreement with the conductor Mr. N. Chatziapostolou, who just had made a big hit with the operetta 'Monterna Kamariera'. Mr. N. Chatziapostolou, a man who wanted his work to be pure and perfectly taken care of, as the theatrical performers who performed in his own operettas under his supervision already knew, demanded that the lyrics be rewritten and that the libretto be better arranged. Thus, on August 19, 1921, the operetta 'Apachides ton Athinon', the second name of 'Prigkips Gkagkaris', was staged at the 'Alhambra' theater with the Samartzis troupe.

Greek society, or the 'middle class' of the time, had a lot of money and rushed to the theater and was fascinated to see heroes on stage who were ordinary and poor but pure and proud people, as most of those who made up this audience were or wished to be.
It is from this ambiance that Mr. Prineas was inspired and broadened the motif of his young 'apachides' (hoodlums) and presented in them in a better way. There were five ordinary characters: the Prince, Karkaletsos and Karoum[as (this is how Charoupis and Fytilis were called), Barmpa Antreas and the pure and patient girl of the people, Titika. The men's and women’s chorus was also their open-hearted company; they were, all together, the 'apachides' (hoodlums).
Mr. Prineas created two more characters of the time, the newly rich Paralis and the cheerful eldest spinster Aretousa, who is a pure Greek creation. [...]
Of course, 'apachides' (hoodlums), as they existed in Paris, were fortunately never present in Athens. By this term, which is theatrically 'catchy', we mean the simple and clever ragamuffins, who were honest and happy street kids.

Deep down, however, even though they were not the same hoodlums as the ones in Paris, they represented, with their phraseology, the tone of their voice and their angers, a genuine Athenian character who existed a few years back, and who, when his presence reached its peak in the life of old Athens, he was mercilessly chased by Bairaktaris, the chief of police, who also became a historical figure. [...]

However, in order to supplement the information presented, I should note how much the music of the "Apachides" has spoken to the hearts of our people. I would say this because it did not only perfect the lyrics, but also felt and revealed this popular soul through the characters created by Mr. Prineas."