Godafoss (more accurately Goðafoss; pronounced "GO-thuh-foss") is a wide 12m tall waterfall on the Skjálfandafljót River. We were able to see this waterfall from both sides of its banks. The east bank seemed to yield some short walks leading to full contextual views from the top as well as frontal views of the falls from near the level of the river. On the west bank, we were right up against the brink of the falls, but I don't think its views were as satisfying as on the east side. Strangely, it was the west bank that seemed to have more of the tourist traffic and tour buses (my guess is because it has the more spacious car park). As a matter of fact, Julie and I plus a photographer couple had the east side to ourselves!
From what I understand, this curling horseshoe-shaped waterfall had a fairly key role in Icelandic history. Apparently back in the year 1000, the lawspeaker at the time Þorgeirr Ljósvetningagoði had the unenviable task of choosing the official religion of Iceland. Perhaps under the pressure of Christianity's convert or die methods, Þorgeirr chucked his icons of Norse deities into the falls (which, by the way, is translated to mean "waterfall of the gods") but secretly maintained allegiance to the Norse deities.
Since the falls is very close to the Ring Road, it didn't surprise us that this was a very popular spot both with self-drivers and tours. But even still, we didn't feel like the tourist crush was overwhelming.
Finally, while we were here, we thought it was definitely worth the effort to check out Geitafoss further downstream of Godafoss. Plus, there was even a pedestrian bridge linking the two sides of the river near Geitafoss so it wasn't totally necessary to drive to both sides of the falls.
Directions: This waterfall is well-signed and right off the Ring Road between Akureyri and Mývatn (about 50km east of Akureyri and 49km west of Reykjalið).
The turnoff for the west bank car park is about 1.1km on the Ring Road east of the turnoff for Route 842. The turnoff for the east bank area is about 300m further east just on the other side of the bridge.