It should by now be common knowledge that the use of Ye, for the, is based on a mistaking of the older orthographic rendering of the word the as Þe. Maybe it’s odd that an almost equally common misreading of ſ - the old long form for s, as an f, hasn’t produced a bunch of Ye olde tea fop from Þe Olde Tea ſhoppe, but the shop’s h probably stops that happening.
But Ye Olde has been around a lot longer than I thought. Here it turns up on the occasion of Queen Victoria’s Diamond Jubilee in 1887. They even had the quainty-wainty f-word (that's Fayre) back then.
|This picture is an engraved illustration from The Graphic (1869 - 1932) of May 21 1887, reporting on the Newcastle Exhibition where they’d had the wherewithal to build a complete half-scale model of the heavily ſhoppe-laden medieval Tyne Bridge which had been washed away in the flood of 1771.|