This is taken from an arrangement of Joni Mitchell’s Both Sides Now by Randy Scruggs on the amazing “Will The Circle Be Unbroken” triple album.
This is in open G tuning. Most notes falling on the beat should be arpeggiated (yes, you can arpeggiate a single bass and single melody note together!).
I actually won the “Best Instrumental” award for playing this at the Gloucester Country Music Festival in the mid 90′s.
Download the Tuxguitar tab: Both Sides Now