Pronunciation: (vol'soong), key
—n.(in the Volsunga Saga
1. a grandson of Odin
and the father of Sigmund
2. any of his family.
The son of Rerir, who was the son of Sigi, who in turn was the son of Odin, Volsung lay in his mother's womb for seven years, and when he was finally born, gave rise to the great and epic Saga of the Volsungs. Volsung's descendants were the great Germanic heroes Sigmund and his son Sigurd.
Found some of this at factmonster.com