Hengik hamri kringðan
(hanga rjúfum) tangar
(Grímnis sylg) á galga
ginnungs brúar linna.
Svá hefr glóraddar gladdan,
gagfellis, mik þella,
lóns, at leikk við mínar
lautir, hellis Gauta.
Hengik linna brúar ginnungs, kringðan hamri, á galga tangar; rjúfum sylg Grímnis hanga. Þella glóraddar Gauta hellis hefr gladdan mik svá, at leikk við mínar lautir gagfellis lóns.
I hang a snake of the bridge of the hawk [ARM > ARM-RING], made round by the hammer, on the gallows of the tongs [ARM]; we [I] reveal the drink of the Grímnir <giant> of hanged ones [= Óðinn > POETRY]. The fir-tree of the gleaming-voice of the Gautar of the cave [GIANTS > GOLD > WOMAN] has gladdened me so much, that I play with my hollows of the backward-bending feller of the lagoon [OAR > HANDS].