[1] The hero is the audacious and inventive beggar Skíði, who was apparently a historic figure from the 12th century.
Skíði dreams that Óðinn sends Þórr to fetch Skíði in order to broker peace between Heðinn and Högni as their incessant war about Hildr threatens to destroy Valhalla.
[2] However, as Skíði could not stop mentioning the word God in front of the Æsir, and finally makes the sign of the cross, Heimdallr struck him in the mouth with the Gjallarhorn.
The depiction of the grovelling, avaricious and impudent beggar is considered to be very funny, and the poem is full of burlesque humour.
The oldest manuscript of the ríma is Reykjavík, Stofnun Árna Magnússon, Am 1025 4to, copied in 1737 by Jón Þorkelsson Skálholtsrektor.