A predominantly freely composed, non-imitative fantasia of 106 compases. It begins with typically loose imitation of theme 1, proceeds by typical Valderrabano plays with imitations of a motive (theme 2) that is present in many of his works (c. 47-51) as light relief in a free context.
At 85 he introduces the inversion of 2 as an ostinato (theme 3) in B after a forewarning in A at 81-82. Little three note motive as K at 102.
Structurally very similar to the parody which it follows in Silva de Sirenas.

It has been postulated that the opening is based on “Si tantos monteros” / “Si tantos halcones”