I'm pretty sure this video was taken on Ivarčko jezero (Lake Ivarčko), Koroška region in Slovenia. I used to spend a lot of time there - and it looks like it hasn't changed much. To my greatest surprise I've also noticed the folklore group I used to be a member of - and that teal color dress is probably what I was dancing in during my teenage years with Pastirci folklore group from Podgorje.
Anyway, Šempetrski šopek (Šempeter's Bouquet) is playing an old song by Štirje kovači (The Four Blacksmiths), ensemble from Slovenj Gradec. I remember the lyrics of the tune but can't think of its title at the moment.
Actually, I think it's KAM LE ČAS BEŽI (Where is the Time Flying)