An Icelandic Lullabye

I read this on an Icelandair Flight and something about it just stayed with me,
apologies for any linguistic errors in the Nordic version.

Bi, bi og blaka,

alftirnar kvaka,

eg laet sem eg sofi,

en samt mun eg vaka.

Bium bium bamba,

bornin litlu ramba

fram um fjallakamba

ao leita ser lamba.

Bye Bye and Hushabye,

Can you see the swans fly?

Now Half asleep in bed I lie,

Awake with half an eye.

Heyho and welladay,

Over hills and far away,

Thats where the little little children stray

To find the lambs at play.