Ranunculus acris; The meadow buttercup grows both in lowlands in drier meadows and meadows and pastures as well as in the highlands in snow beds. The photo was shot in spring showing early flowers. Later the flowers grow on upright stems. The other similar common buttercup is the creeping buttercup (R. repens) differs in having compound leaves where as the meadow buttercup has hand-shaped deeply incised but entire leaves. Other buttercups which are common on Iceland have small leaves and grow generally on damp/wet places.
It is a member of the buttercup family (Ranunculaceae). The Icelandic name of this species is Brennisóley.