West of Midgard Lies Vanaheim literally means "the home of the Vanir" and is one of the nine 'worlds' of the Norse cosmology. The Vanir themselves are one of the main groups of deities in the Norse/Anglo-Saxon pantheon with the other being the Ęsir, A race of elder gods inhabits this world of secrecy, whose best known deities are odin, bor and Frigg. One of the sayings in former Heathen times linked Ęsir and Įlfar (or the elves) together and the Vanic god Freyr was the ruler of Įlfheim or the "home of the elves".
The Norse myths describe a great battle between the Vanir and the Ęsir in the beginning which possibly mirrored a clash of two religions on Earth after the migration of the Indo-European tribes to the North-West European lands. The mythical peace treaty, which followed this battle, had some of the Vanir then moving into Asgard (home of the Ęsir) in an exchange of divine power.
The Vanir are particually - but not exclusively (despite what some oversimplified myth books might suggest) - connected with fertility and their cult is based on the agricultural year and the natural cycles of the earth.
First contact between this world and Asgard was a visit to the Aesir by Gullveig (possibly Freya). She was a seeress that taunted the Asgardians. Thrice they burned her and each time she was reborn anew. Throughout the land she went, teaching her magic to women. All the while working her way back home. This caused the people to give tribute to the Vanir.
Becoming very angry, the Aesir started a war with the Vanir. The elder gods proved to be indomitable. They tore down the protective wall of Asgard. Thus, a truce was called. Hoenir and Mimir were traded to the Vanir; Njord, Frey, and Freya were all sent to the Aesir. After Ragnarok, Njord will return to back to Vanaheim to rebuild his ancestral home.
Vanaheim lay to the west of Midgard. Its weather is that of springtime. Rolling, grassy knolls can be found. The temperature is always warm. This is truly the home of the Earth and Water Gods and Goddesses. Vanaheim is burned severely by Surts fire at Ragnarok. Then again, so is everything else.
Given the lack of information about this land, Vanaheim seems to be the home of the deities that were worshiped before the Aesir were accepted.