The legend of the Cowherd and Weaver Girl, which can only be met once a year, has been widely handed down not only in various regions of China but also in Asia, including Korea, Japan, the Philippines, and Vietnam. Like the early literature records of Chinese mythology, the story of Cowherd and Weaver Girl exists as a small short story. Focusing on these characteristics of Chinese mythology, this paper analyzes the early forms and various variations in the formation of the story of Cowherd and Weaver Girl. In this paper, we first examined the faith of the stars as an early form of myth contained in the story of Cowherd and Weaver Girl. Next, the stories of Dong Yong(董永) and Guo Han(郭翰), which have meaningful discourse among the variations of the story of Cowherd and Weaver Girl, were analyzed. Through this, the discourse of the times shown by these stories demonstrated sufficient value as an open text in which the story of Cowherd and Weaver Girl can be interpreted in various ways.