The Untold Truth Of Lady Loki

So not only has Loki, the actual Norse god, shape-shifted to do the bidding of the gods and for his own purposes as well, he's done it by changing genders. In a tale called "The Fortification of Asgard," the gods made a deal with a giant smith to create a wall to defend their home. If he was able to do it with just the help of his horse Svadilfari in one winter, he would have Freya's hand in marriage, along with the sun and moon. The gods were shocked when the giant actually looked like he was going to finish the task, so they sent Loki in to stop him. Loki took the form of a female horse, drew Svadilfari off, and ended up giving birth to a gray, eight-legged horse named Sleipnir, who became Odin's steed.

In the "Lokasenna," a poem that's part of the "Poetic Edda" collection, Odin says to Loki, "Thou was eight winters on the earth below, milked cow as a woman, and didst there bear children. Now that, methinks, betokens a base nature." He is also believed to have taken on the identity of the giantess Thökk, who did not weep and thus refused to release Odin and Frigg's son Balder from death, according to Britannica.

Thus, the existence of Loki's female side has a basis in ancient mythology. This makes Lady Loki's existence simply part of the journey in bringing the Marvel character full circle.