The story of 'Pick up your money, pack up your tent'

Late in 1967, Bob Dylan and the Band got together in the basement of "Big Pink" (a house in Woodstock that a few members of the band owned) and recorded a dozen or so songs. Dylan and the Band had been jamming for most of 1967, mostly recording cover songs of other artists, but as time went by, Dylan soon began coming up with new songs of his own (including a couple of songs he co-wrote with members of the Band).
These songs were generally intended to be demos for other artists to hear to see if they wanted to do their own versions of the songs. These almost mythological jam sessions were officially released in 1975 as The Basement Tapes.

The Byrds changed a line in the song (seemingly by accident, as it is a small change that would seem too slight to be purposeful). Instead of saying 'Pick up your money, pack up your tent,' the Byrds say 'Pack up your money, pick up your tent.'

In 1971, Dylan decided to record some of his Basement Tape recordings to put on to his 1971 Greatest Hits Volume 2. One of the songs he chose was "You Ain’t Goin' Nowhere."
Dylan decided to take the opportunity to take a good-natured swipe at Roger McGuinn by changing the lyrics HIMSELF to basically the Byrds' new lyric, only adding, 'Pack up your money, put up your tent, McGuinn.' McGuinn seemed to be delighted at the attention, and I know I’ve seen him talk about the line a number of times over the years.

In 1989, McGuinn guested on the Nitty Gritty Dirt Band’s all-star second volume of their classic 1972 album Volume Two (an all-star album) The first single off of the album was a cover of 'You Ain’t Goin' Nowhere,' sung as a duet between Roger McGuinn and Chris Hillman (their first time singing together in years). On the tune, McGuinn gets his revenge, of sorts, by changing the lyrics once again to: 'Pack up your money, pick up your tent, Dylan.'