Odin, disguised as an old man, travels to the hall of the wisest giant, Vafthrudner, to engage him in a battle of wits. This scene depicts the moment just before the giants realize their guest is in fact the All-father.
That picture is amazing. The background is beautiful, the poses are great (well, maybe a little too "classical painting" for my taste, but that's nitpicking... and dat crowned giant), and Odin's cloak is really the cherry on the cake. Putting a mature tag on this even appears off. Seeing the original resolution, I would have love to examine this piece in further detail in HD.