The band's name means iterally "The Ugly Idiots", but perhaps closer to "Stupid Bastards".
Ljótu hálfvitarnir is a punkish folk band. Nine guys brought together by love of music, words, fun and beer. They released 3 albums, all called Ljótu Hálfvitarnir, but with a different colour used for the title.
Ljótu Hálfvitarnir's Website