Grábrók (gray trousers) is a volcanic crater that is part of a system of three craters, which you can also explore via wooden walkways.
The other two craters are Rauðbrók (red trousers) and Litla-Grábrók (little gray trousers).
The Grábrók volcanic crater is located right next to Highway No. 1, so finding it will not be a problem. From the parking lot (GPS: 64.771398, -21.531437), you can reach the top of the crater via a marked trail.