But best of all the horses of heaven was Sleipnir, the eight-legged steed of Father Odin, who because he was so well supplied with sturdy feet could gallop faster over land and sea than any horse which ever lived. Sleipnir was snow-white and beautiful to see, and Odin was very fond and proud of him, you may be sure. He loved to ride forth upon his good horse's back to meet whatever adventure might be upon the way, and sometimes they had wild times together.
One day Odin galloped off from Asgard upon Sleipnir straight towards Jotunheim and the Land of Giants, for it was long since All-Father had been to the cold country, and he wished to see how its mountains and ice-rivers looked. Now as he galloped along a wild road, he met a huge giant standing beside his giant steed.
"Who goes there?" cried the giant gruffly, blocking the way so that Odin could not pass. "You with the golden helmet, who are you, who ride so famously through air and water? For I have been watching you from this mountain-top. Truly, that is a fine horse which you bestride."
"There is no finer horse in all the world," boasted Odin. "Have you not heard of Sleipnir, the pride of Asgard? I will match him against any of your big, clumsy giant horses."
"Ho!" roared the giant angrily, "an excellent horse he is, your little Sleipnir. But I warrant he is no match for my Gullfaxi here. Come, let us try a race; and at its end I shall pay you for your insult to our horses of Jotunheim."
So saying, the giant, whose ugly name was Hrungnir, sprang upon his horse and spurred straight at Odin in the narrow way. Odin turned and galloped back towards Asgard with all his might; for not only must he prove his horse's speed, but he must save himself and Sleipnir from the anger of the giant, who was one of the fiercest and wickedest of all his fierce and wicked race.
How the eight slender legs of Sleipnir twinkled through the blue sky! How his nostrils quivered and shot forth fire and smoke! Like a flash of lightning he darted across the sky, and the giant horse rumbled and thumped along close behind like the thunder following the flash.
"Hi, hi!" yelled the giant. "After them, Gullfaxi! And when we have overtaken the two, we will crush their bones between us!"
"Speed, speed, my Sleipnir!" shouted Odin. "Speed, good horse, or you will never again feed in the dewy pastures of Asgard with the other horses. Speed, speed, and bring us safe within the gates!"
Well Sleipnir understood what his master said, and well he knew the way. Already the rainbow bridge was in sight, with Heimdal the watchman prepared to let them in. His sharp eyes had spied them afar, and had recognized the flash of Sleipnir's white body and of Odin's golden helmet. Gallop and thud! The twelve hoofs were upon the bridge, the giant horse close behind the other. At last Hrungnir knew where he was, and into what danger he was rushing. He pulled at the reins and tried to stop his great beast. But Gullfaxi was tearing along at too terrible a speed. He could not stop. Heimdal threw open the gates of Asgard, and in galloped Sleipnir with his precious burden, safe. Close upon them bolted in Gullfaxi, bearing his giant master, puffing and purple in the face from hard riding and anger. Cling-clang! Heimdal had shut and barred the gates, and there was the giant prisoned in the castle of his enemies.