The letter Æ is pronounced ▶ Play. It is not a single sound, but two sounds: “aí”. You start by pronouncing the letter A, and then you pronounce the letter Í. This is the same sound as in the English “my”.
It can be long:
  • sæl, kærasti
Or short:
  • sæll, næstur
The name of the letter is “æ”. The symbol itself was originally a ligature of the letters “ae”, but is now just a normal letter. If you don’t have access to an Icelandic keyboard, you write the letter as “ae”.