Hólmatungur is considered by many Icelanders to be the island's most serene place. It has an almost dreamlike quality. If you want to drive there, you need a 4WD but camping at Hólmatungur is prohibited. The good new is though that the hiking trail from the mighty waterfall Dettifoss to Hljóðaklettar in Vesturdalur through Hólmatungur is the single most beautiful hiking trail in Iceland. It will be worth your while to take a day off from driving the Ring Road; to hike along the trail and have a picnic at Hólmatungur. It would be a day well spent.
An oasis inside the Vatnajökull National Park
Well within the Vatnajökull National Park, Hólmatungur has lush vegetation and tumbling waterfalls. Underground springs bubble up to form a series of short rivers, twisting, turning and cascading their way to the Jökulsár canyon. It is a geological wonderland.
The folklore tells us that mistress Þórunn the rich at Ási in Kelduhverfi, once escaped to Hólmatungur with all her servants. The escape was during an era when the Black Death epidemic was raging in Iceland.The mistress stayed in Hólmatungur in relative comfort until her food supply started running short. She had already had all her sheep and other domestic animals slaughtered. Þórunn was a rather beefy lady, and she worried she would be next on the menu.