The term 'Old Icelandic Literary Work' refers to the Edda, a collection of Old Norse poems and stories from Iceland. It is believed to have been written in the 13th century and is one of the most important sources of information about Norse mythology and culture. The Edda is divided into two parts: the Poetic Edda and the Prose Edda. The Poetic Edda contains a collection of mythological and heroic poems, while the Prose Edda is a handbook for skaldic poetry. Both parts are essential for understanding the history and culture of the Old Norse people.