Perhaps the phrase about the "carved acorn-bed" may puzzle you; it is borrowed from the fairy-lore of Shakespeare's time, when fairies were said to sleep in little beds carved out of acorn shells; the simile is used only by way of calling the insect a fairy creature.

In the second line of the third stanza you may notice the curious expression about the "gilt plaits" of the sun's beams.

It was the custom in those days, as it still is in these, for young girls to plait their long hair; and the expression "gilt plaits" only means braided or plaited golden hair.

This is perhaps a Greek conceit; for classic poets spoke of the golden hair of the Sun God as illuminating the world.

I have said that the poem is a little artificial, but I think you will find it pretty, and even the whimsical similes are "precious" in the best sense..