It tells about the wooing of the virgin Menglǫð by the hero Svipdagr. Menglǫð lives on a mountain surrounded by a wall of flames. She is guarded by the giant Fjǫlsviðr. The guardian asks him numerous questions. At this point, Svipdagr is hiding under the pseudonym of Vindkaldr. Finally Fjǫlsviðr himself announces that Menglǫð can have no other husband than Svipdagr. Svipdagr reveals his true identity and Menglǫð and he greet each other with mutual declarations of love.