Ray's band was initially formed from the remnants of Hank Williams' band, the Drifting Cowboys. The band would later become the Cherokee Cowboys, and Ray himself would become known as the Cherokee Cowboy. Ray has always had an uncanny talent for recognizing quality in both music and musicians. The careers of many country music superstars, such as Willie Nelson, Roger Miller, Johnny Paycheck, Darrell McCall, Buddy Emmons, and Johnny Bush, began with Ray Price and the Cherokee Cowboys.

Pictured here are early Cherokee Cowboy band members (from left to right) Buddy Emmons of Nashville on steel guitar, Charlie Harris of San Antonio on electric guitar, Johnny Bush of Houston on drums, "Little Red" Hayes of Oklahoma on fiddle, and Pete Burke of Houston on bass.