This clever design is set in Lake Town and tells the story of the Dwarves and Bilbo's journey to the Lonely Mountain (which you can see in the background) - they have passed through the Misty Mountains and it shows their escape from Mirkwood, down Forest River into the Long Lake in barrels.
The runes along the borders feature a quote from The Hobbit:
“May the wind under your wings bear you where the sun sails and the moon walks.”
The mirrored design features unique elements on each side, one representing day and the other night. If you look closely you can see Smaug in the sky and some of the characters and creatures that helped them like the Eagles, Beorn and Gandalf.