This is the 403rd most frequent Icelandic word.
mála
"To paint" or "to speak" (depending on context).
In this sentence, 'mála' means 'to paint' as in creating an image with paints.
Ég ætla að mála mynd.
I am going to paint a picture.
Here, 'mála' is used to describe covering a surface with paint.
Við þurfum að mála vegginn.
We need to paint the wall.
In this case, 'mála' denotes applying cosmetic nail polish.