One morning, upon waking, Thor discovers that his hammer is missing. He tells Loki and together they go to Freyja's dwelling to borrow her feather-dress so that he might go looking for his hammer, and Freyja consents. Loki dons the feather-dress and flies until he reaches Jötunheimr. He sees Þrymr sitting on a mound and asks him if he has hidden Hlórriði's hammer. The giant confirms that he has hidden it eight miles deep in the earth and says that it will remain there unless Freyja is given to him as his wife.
Loki returns to Ásgarðr and tells Thor that Þrymr has his hammer but that he will not get it back unless they bring Freyja. They go to Freyja and instruct her to put on her bridal dress and come with them to Jötunheimr. Freyja is furious and refuses to go, so the gods hold council how they might get the hammer back. Heimdallr proposes that Thor disguises himself as the goddess, wearing a woman's dress, a veil, and the Brísinga necklace. Thor reluctantly agrees.
Thus Thor, disguised as Freya, and Loki, who pretends to be his maid-servant, travel to Þrymr's home. In the evening a feast is prepared for them there. Thor eats an ox, eight salmon, as well as all the dainties that were set for the women, and drinks three tuns of mead. When Þrymr remarks on his bride's appetite, Loki replies that Freyja has fasted for eight nights, so eager was she for Jötunheimr. Þrymr then looks beneath the veil, for he longs to kiss her, but springs back along the hall, asking why Freyja's eyes are so piercing, as if fire is burning from them. Loki as the maid-servant answers that Freyja has not slept for eight nights, so eager was she for Jötunheimr.
At that point the giant's luckless sister comes in to ask for a bridal fee, the rings of red gold from Freyja's hand, in return for her love and favor. Þrymr orders Thor's hammer to be brought in, to consecrate the bride. As soon as the hammer is back in his hands Thor strikes down Þrymr. He then proceeds to kill all the other giants present, including the sister who had begged for the bridal fee.