Loki asks for, and receives, permission to divest the public buildings in the square of a length of bell-adorned fabric.
She wraps this fabric and its bells around the end of her glaive, and starts looking for a good staging ground, trying not to jingle the bells too much until she's chosen a good flat spot.
And then she lifts her glaive into the air and starts waving it around, where it makes a louder jangling noise than any but the most enthusiastic wind could have produced by accident.
She and her fellow warriors hide nearby, ready to come to Loki's aid should she need it. (But hoping, Thor most of all, that she will not need so much of it that this will not count.)
Eventually, when she's been making the noise that so attracts the creature for a few minutes, it appears as a spot on the sky. Loki doesn't let up until it's tried to poison the end of her weapon - which naturally doesn't yield to the treatment, although a small length of bell-fabric does get snipped off by the sharp tail end. She torques the blade around and scores a nick on the tail, not enough to cut the barb off entirely but enough to make it painful.
When it looks like the wyvern might give up, upon receiving this wound, and it beats its wings down hard to gain altitude, she spins, polearm held high, hiding no part of the grace she spelled into her bones centuries ago, and makes a great slash in the membrane of a wing. The beast gets some air regardless, but soon loses it, unable to work hard enough to carry its bulk on a wing that can't catch air over a third of its surface. It glide-falls to the ground yards away from Loki.
She chases it. It turns to meet her. She gets the other wing, ducks a bite, takes a scratch from a hindfoot in the process of slicing the rest of the way through its tail, and then rolls away and kips up to circle it, waiting to see what other weapons it will try to deploy when it's cornered.
It goes for a bite.
She meets its attack with her glaive up through the bottom of its jaw and into its brain, and slams its head down onto the ground with enough force that its body slumps in the corresponding direction as it dies.
Loki beams and wrestles her weapon out of the wyvern's head. She inspects the cut on her arm, finds it superficial, it can be disinfected and wrapped up later, now it is time to run over and hug her sister.
It is that time! That time is exactly now. Thor gives Loki a hug so exuberant it lifts her right off the ground.
Eventually Thor does put her down, so that they can all return to where they left the horses. The village is certain to lay them a small feast, and Odin's hall is certain to lay them a much bigger one.
Loki approves of feasts entirely! Although she does insist on visiting the village's medic, first, for first aid on the scratch, after that she will enjoy the hospitality and celebrations as intended.
If Loki wishes to recount her own tale of the battle, she will have to be quick about it, because Thor is excited enough to tell it all herself.
Loki will let Thor help, but she does want to do some of it herself.
That is very kind of Thor. Loki describes how her previous exposure to information on wyverns and the coincidence of the attacks' timing gave her the idea, and from there segues into more conventional descriptions of the battle.
(Thor is occasionally unable to restrain herself from interjecting excited commentary during a lull.)
She may also surrender to the temptation to recount the story to their companions several times on the way back to the palace, despite the fact that all of them were there.
That is quite allowable. Loki will not even interrupt her, if that's what she wants to do. Whether her friends will become tired of it is Thor's problem.
Her friends do not, by and large, become tired of it! Thor is good at telling these kinds of stories, and she has ways of making the details seem fresh and exciting again, when she asks them if they remember when Loki did thus-and-such and describes it so vividly.
Loki will be glad to have witnesses when it's time to tell her mother what's happened. She is not entirely sure Odin would believe her if she were without corroborating help.
No one else needs to corroborate, because Thor tells Odin the whole thing as soon as they arrive, with earnest pride and excitement. Odin actually smiles at Loki - a rare event, to be sure. And then, predictably, calls a feast.
She'll deal with that later, she supposes. In the meantime, feasting. Loki would like to sit next to her father.
Loki's feelings about her father's approval are less mixed (though complicated in their own way). "You have probably already heard the whole story from Thor," she says, while being hugged.
"She tells it better than I. Perhaps she should dabble in barding. But I heard that the wyvern began to attack when the Festival of the Bells started and remembered that their best sense is hearing, and thought it might be because of the bells. So I belled my glaive, and got the creature to attack it, instead of me, with its tail, and then I got its wing -" She outlines the rest of the fight, and concludes with, "The medic doesn't think the scratch will scar."