Ég er ugla
Su-sumar ugla
Ég er ugla
Su-sumar ugla
Su-sumar ugla
Su-sumar ugla

amazingly beautiful song; have no idea what it means.

English Translation:
I'm an owl Su-summer owl
I'm an owl Su-summer owl
It DOES seem to have what sounds like owl sounds. lol X3
It DOES seem to have what sounds like owl sounds. lol X3

It DOES seem to have what sounds like owl sounds. lol X3

Clever play on words here, though I'm not sure what the intended meaning could be. "Rugla" means confused," so "ég er ugla" has the potential of being misheard as "ég er rugla," meaning "I am confused" as opposed to "I am an owl." Thus rendering the meaning to "I'm a confused, a confused summer" or something to that effect. I don't speak Icelandic too well, so I can't be sure.
Such a peaceful song to play on a summer night, though.