The song meaning is clear. Or is it? I read a post on songfacts. Com claiming that this song is often misinterpreted, and that in fact the song has an unhappy ending.
That is, every other ex-con on the bus had the same plan with their long lost girlfriends, so how could the guy tell which ribbon was from his girlfriend? Either that, or his girlfriend had been screwing around with 100 other ex-cons and was welcoming them home too. While it is true that he clearly tells his woman to tie *a* yellow ribbon, there's nothing else to support the unhappy, woman-moved-on ending.
Much clearer is that the hundred ribbons emphasize her acceptance of him, confirmed by the "I'm coming home, mmm" line at the end.
This song is alternatively based on a newspaper story, an urban legend, a real story that happened in Georgia not Florida (do they have oak trees in Florida?). It really doesn't matter because it's a great story that we love to hear.
Now, let's consider how dated this song sounds today: Is it remotely possible that today's public/media would be caught dead cheering for a convicted felon and his love life? Remember the quaint old days when people went to prison, paid their dues (serving "only" 3 years instead of endless warehousing), got out and were accepted as humans with lives and loves? The protagonist in this song is obviously an honorable and reasonable person ("put the blame on me"). It's hard to image such a sympathetic portrayal of a recently released prisoner today.