This is a waterfall in the river Ófæra that runs into the Eldgjá volcanic chasm. The Eldgjá chasm (crater in the shape of a canyon) was most likely created in an eruption in the year 934. Therefor this waterfall is quite young and still changing. Up until the 1993, there was a natural stone bridge which arched across the lower waterfall in this picture. It collapsed by itself during a flood in the river.
Ófærufoss means “the waterfall of Ófæra” and Ófæra is the name of the river. Ófæra means “impassible”.
This picture is one of many great Iceland pictures by Thierry Hennet.