Skógafoss waterfall is situated along the Southern Ring Road on the Skógá River. Hike up the trail next to the waterfall and enjoy its beauty and power from above. The hiking and trekking trail leads to the famous, Fimmvörðuháls area between the two glaciers, Eyjafjallajökull and Mýrdalsjökull. Fimmvörðuháls is one of the most popular hikes for Icelanders. It goes down to Þórsmörk, then continues beyond there as the Laugavegur trail, another popular hiking trail, to Landmannalaugar.
Interesting fact: Skógafoss was a film location for the movies Thor: The Dark World and The Secret Life of Walter Mitty.