In older American slang, a "bum steer" is a bad pointer, some bad advice or being sent in the wrong instructions (among others examples).
.Bum Steer JNL was modeled from some lively hand lettering found on a piece of early 20th Century sheet music entitled "When Uncle Joe Plays a Rag on His Old Banjo". It's very possible that "Hobo" (a popular type design of the time) was a strong influence on the sheet music's style of title lettering.
.It seems that songwriters in those bygone days were prone to packing as many words from a line of their tune into the title itself.
.Another such example of a verbose song title which coincidentally is in keeping with the style of a 'bottom guide' (pun intended) is a novelty number from 1915: "Cows Might Come and Cows Might Go but the Bull Goes on Forever" (words by Vincent Bryan, music by Harry Von Tilzer). [It's type of self-descriptive, do not you think?]
.Font Family: Bum Steer JNL Regular