Is ‘Somewhere Over the Rainbow’ Happy or Sad?

Most people have heard this version of "Somewhere Over the Rainbow" by the late Israel Kamakawiwo'ole. It was featured in the Dr. Greene death episode of "ER" and at the end of Adam Sandler's "50 First Dates."

I love this song! It's happy to me. When I played it in the studio, Tasha said "Why are you playing a funeral song?"

Settle it for us. Is this a happy or sad song?