Yggdrasil is a huge ash-tree with branches so long they go into the sky and three long roots that end in three different worlds.
One root ends up in Åsgård and the norner are living by a well close to that root. The three norner, called Urd, Verdande and Skuld, are the goddesses of the past, present and future. When a child is born the norner will be there and measure up the time this child will have to live. The three norner are also keeping the Yggdrasil alive by giving it water from the well.
Another root ends up with the rimtusser or jotner – the giants. Here is Mime`s Well which is looked after by the very clever Mime. This well is the source of wisdom and this is where Odin almost died to get that wisdom.
The third root is in Nilvheim or Hel – the land of the dead. There is a well there as well but it`s filled with snakes and worms, among them the terrible Nidhogg who is chewing on the root of Yggdrasil.
The Yggdrasil is the most holy of all places.
Yggdrasil is also the name of a Swedish folk-metal band. Here is one of their songs: