Tussilago farfara; The colt's-foot is a rare species on Iceland. In fact, it only grows on waste dumps and similar areas. Therefore it is only common in urban areas like Reykjavik but elsewhere rare. The flowers appear in early spring before the leaves appear. The stems on which a flower grows on top have may small bract-like leaves. The main leaves however, have a typical large hoof-shaped appearance, often in rather silverly-greyish green colors.
It is a member of the daisy family (Compositae).