Yay! Sesame Street just re-released this album on iTunes, along with a whole bunch of other classic 70s & 80s albums. All sales support the non-profit Sesame Workshop to make possible the production of the show, so go buy a CD-quality copy of this song and support Sesame Street!
High Hopes was introduced in the 1959 Sinatra movie A Hole in the Head, but Bob's version captures the spirit perfectly and has made this one of my very favorite songs ever :)
Lots of credits--the 1977 Sesame Street LP Bob Sings! (CTW 22084) actually has decent liner notes. Music by Jimmy Van Heusen; lyrics by Sammy Cahn; arrangement by Dick Hyman. Instrumentalists: Dick Hyman, Ted Sommers, Tony Prie, Tony Mattola, Carmen Mastren, Phil Kraus, George Masso. Kids: Danielle Brisebois, Douglas Lemberg, Michelle Lewis, Alison, Cathlin, and Lilly McGrath, Daniel and Jeffrey Weber.