One more link on moose-hunting pits.
My working idea is an eddaic-style poem about a joke Loki plays on Thor. He gets the thunder god to attack a moose. Not just any moose, of course, but a huge primordial moose that will challenge even Thor. When the moose tosses Thor over the next hill and all the gods are cross with Loki (for leaving them with an angry moose and no Thor), Loki gets the moose to chase him and leads it into a hunting pit.
Loki requires some come-uppance, here, and the story needs a tighter ending, so perhaps in recognition of his great achievement, Thor will graciously see to it that the moose antlers are mounted on Loki's helm, so that all will know his deed. Or maybe Sif will, as that sort of subtlety is not exactly Thor's strong suit.
Elg is the Norwegian word for moose. (So the elkhound thing appears to be true!) That might be useful to know.
Now, off to go re-read my notes from "The Lay of Storvik's Founding" so I can remember how eddaic poetry is (slightly) different from my usual A-S...