Oh, yes, I've heard that phrase all my life. Tsuwm's link says, in part:
ETYMOLOGY: Middle English hew and cri, partial translation of Anglo-Norman hu e cri : hu, outcry, clamor (from Old French huer, to shout, of imitative origin) + e, and + cri, cry (from Old French crier, to cry; see cry).

I don't know Old French, but I would guess the first and second persons singular conjugation would be hue. So that may be how it crept over to English; or possibly the "and" ('e') just got tacked on to the hu.

For some odd reason, my knee-jerk association with hue and cry is "fox hunt".