A video posted online has excited monster hunters in Iceland with apparent proof of the existence of the mythical Icelandic creature Lagarfjóts Worm - Iceland's answer to Scotland's Loch Ness Monster.

Cameraman Hjörtur Kjerúlf captured the giant, icy snake swimming in the Jökulsá í Fljótsdal river, which empties into Lake Lagarfljót.

The Lagarfjóts Worm, which is also known as Lagarfljótsormurinn, is first mentioned in sources dating back to 1345AD. According to Nordic legend, it was first a tiny worm which was put on a ring of gold to make the ring grow, Iceland Review explained.

When the owner of the worm returned, she discovered that it had grown enormous but the ring was still the same size as before. In frustration, she threw both the worm and the ring into the lake, where the worm continued to grow even bigger.

Sceptics say the video merely shows a torn fishing net which froze in the river, but the sleek movements of whatever it is that was filmed suggests otherwise.

Take a look at the YouTube video and tell us what you think:

Gold