These horses can be found in many colors including, chestnut, dun, bay, black, brown, gray, palomino, pinto and roan.

The Icelandics are a five gaited breed, known for its sure-footedness and ability to cross very rough terrain. In addition to the normal walk, trot and canter, they have what is called the tölt and the skeið.

The tölt is a four-beat ambling gait known for its explosive acceleration and speed. The skeið is said to be fast and smooth with some horses reaching up to 30 mph.

The breed is popular outside of Iceland, with sizable populations in Europe and North America. They are still used for traditional farm work in Iceland, as well as for leisure, showing and racing.

They have well-proportioned heads, with straight profiles and wide foreheads. The neck is short, muscular and broad at the base. The withers are broad and low. Their chest is deep and the shoulders muscular and slightly sloping. The legs are strong and short. The mane and tail are full, with coarse hair, and the tail is set low. The breed is known to be hardy and an easy keeper. The breed has a double coat developed for extra insulation in cold temperatures.