This is the red waterfall of Iceland and the 3rd highest overall. There's a built up trail going to the base of the waterfall. It gives you a nice view and the hike is easy. For even better views, you can hike up on the left side and get to the very top of this waterfall. It will take you about 1h one way to reach the top and the hike is quite steep at times. On the way up you pass another really cool waterfall as well, Litlanesfoss.

Be careful around the edges as the rocks are loose and can break off