Wiktionary
phr. 1 Faux-archaic form of ''the old'' 2 pseudo--archaic, pertaining to a historically inaccurate invocation of pre-modern times.
Wikipedia
"Ye olde" is a pseudo- Early Modern English stock prefix, used anachronistically, suggestive of a Merry England, Deep England or "old, as in Medieval old" feel. A typical example would be Ye Olde English Pubbe or similar names of theme pubs.
Usage examples of "ye olde".
The whole staff of Ye Olde Red Cow was groveling to the war hero and had noted her presence by his side.
There is no furniture, only padded walls and floor with a hole in one corner for ye olde body wastes.
There is rather too much of the atmosphere of 'Ye Olde Cornish Tea House' about it.
For even though Chulthe was banished beyond ye stars in ancient times, he was summoned back to this Pianette by [ Aaron whose summons was focussed not by ye Golden Calf, as ' told in ye Olde Testament, but by ye Golden Beast of a visage so terrible that none could describe.
In front of it a big tree grew out of the pavement, pedestrians walking around it, and if Ye Olde Willow Cottage didn't date from colonial times, it sure looked it.
So I follow them into Ye Olde Coffee Shoppe, and we sit down at a booth with shiny red vinyl seats and a bright white polymer-topped table while the waitrons attend to our needs.