Lyrics:

Bakvið skýjaból vaknar sól ur dvala
Svalar sér við kalda dropa regnsins
leikur sér við heita loga eldsins
Býr til regnboga
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Unofficial Song Translation

Behind a vessel of clouds, a sun wakes up from its lethargy
Refreshes itself with some little raindrops
Plays with the hot flames of the fire
Makes rainbows