The motif is a Ghost Moth, an insect related closely to the butterfly. The Ghost Moth gets its name from the display flight of the male, which hovers, sometimes slowly rising and falling, over open ground to attract females.

The Ghost Moth, which spreads its wings across the banknote, is found all over the Faroe Islands.

The background is reproduced from a watercolour with blades of grass. The motif of Tíndholmur near Vágar on the reverse of the banknote is also reproduced from a watercolour. Tíndholmur is the peak islet. Look at the picture's remarkable similarity.

And where's Vagar?
Vágar, or Vágoy is one of the 18 islands of the Faroe Islands. Vágar is the first port of call for most foreigners travelling to the Faroe Islands, as it is home to the islands’ only airport, Vágar Airport.