Final answer:
The dragon in the text was a formidable creature with a scaly appearance and a fiery tongue, guarding a palace of gold. It was defeated by Ethelred, who was forced to cover his ears from the dragon's terrible shriek. Dragons often symbolize imperial power in various cultures.
Step-by-step explanation:
The dragon that guarded the enchanted spring is vividly depicted as a fearsome creature in the referenced text. It had a scaly and prodigious demeanor with a fiery tongue, and it sat in front of a palace of gold with a floor of silver.
The fearsome beast was defeated by the good champion Ethelred, who struck it upon its head, resulting in the dragon giving up its 'pesty breath' with a shriek so horrid that Ethelred had to cover his ears. This dragon not only serves as a literal guardian but is also symbolic, much like how dragons in other texts and cultures can represent imperial power or other significant concepts.