Unlike other etudes composed during the Weimar period, this one was composed in Rome between 1862 and 1863. At this time, Liszt was already over 50 years old, yet the work, with its innovative harmonies and refined technique, clearly demonstrates the confident mastery of Liszt's mature period.

It is dedicated to Liszt's beloved pupil, Dionysos Pruckner (1834–90).

The following pieces were all given their titles during composition and are composed in a pictorial manner.

1. Waldesrauschen (Rustling Woods) / No.1 in D-flat major, Vivace

Although widely known in Japanese translation as “Whispering Woods,” this is a mistranslation; “Rustling Woods” is the more accurate rendering of the original German.

From the outset, a graceful melody is smoothly sung over an accompaniment of sixteenth-note triplets, evoking the sound of rustling leaves. The piece gradually builds, reaching a storm-like climax. It then regains the tranquility of the opening and quietly concludes.

2. Gnomenreigen (Dance of the Gnomes) / No.2 in F-sharp minor, Presto Scherzando

Following a brief introduction, the agile musical idea, true to its title, evokes the light dance of gnomes. It is a scherzo-like piece. A musical idea introduced “un poco animato” alternates with the main theme. This captivating etude features intense key changes, abrupt rhythmic shifts, and a demonic atmosphere. In contrast to the relatively easier first piece, this one demands a very high level of technical skill.