Vǫlsa þáttr is a short story which is only extant in the Flateyjarbók codex, where it is found in a chapter of Óláfs saga helga.
The story goes that an old man and an old woman lived with their brisk son, intelligent daughter and several thralls on a promontory far from other people.
The daughter asked her brother to throw away the disgusting object, but her old mother rose and said it was a useful thing that should not be thrown away.
He went to their abode and only brought with him Finnr Árnason and Þormóðr Kolbrúnarskáld, and they were all wearing grey cloaks to hide their identities.
She put it in her husband's lap and recited a poem, saying: "May the giantess (Mǫrnir) accept this holy object".