When I was in Bethel in the 1980's, I actually heard a different version of that phrase used. I don't remember exactly who it was that said it the first time I heard it, but I believe it was at the breakfast table by one of the GB. What I heard was "Brothers, why are you so interested in chasing a bag of bones and a hank of hair?"
For some reason, everyone laughed. Even the women.
I guess it was an inside joke?
Go figure.
A friend of mine there who played the guitar actually wrote a love song that he called, "My little bag of bones," or something like that.
Now THAT was funny.