 Olaf the Peacock ( Old Norse : Ólafr Pái ) or Olaf Hoskuldsson ( Ólafr Höskuldsson ) ( c . 938 – 1006 ) was a merchant and chieftain of the early Icelandic Commonwealth , who was nicknamed " the Peacock " because of his proud bearing and magnificent wardrobe . He is a major character in the Laxdæla saga and is mentioned in a number of other Icelandic sources . The son of a slave woman , Olaf became one of the wealthiest landowners in Iceland and played a major role in its politics and society during the latter half of the tenth century . In addition to the Laxdæla Saga in which he takes a leading role , Olaf also is mentioned in Egils saga , Njáls saga , Gunnlaugs saga , Kormáks saga , Grettirs saga and the Landnámabók , among others . 
