According to the mythology, Loki or Loke is not god.

He not from Æsir or Vanir, he is a Jotun. However because he is close to Odin, he considered as Æsir. Loki is a god of mischief. He is like Hermes in Greek Mythology. He often changes his form to be more form to easily do the trick. Loki was the father of many creatures, men and monsters. With Glut, his first wife, he was the father of Einmyria and Eisa. Having liaisons with giantesses was nothing unusual for gods in Norse mythology—both Odin and Freyr are good examples; and since Loki was actually a giant himself, there is nothing unusual about this activity. Together with Angerboda, he had three children:

*Jormungand, the sea serpent

*Fenrisulfr the giant wolf preordained to slay Odin at the time of Ragnarok

* Hel, the goddess of the underworld/realm of the dead

Let me tell you one story about Loki.

Thrym giant stole Mjolnir (Thor's hammer) and won't return it. Thrym giant said if Freya to be his wife, he will return the hammer. Thor asks Freya about arrangement's Thrym giant. She angry to heard that and don't want to be Thrym's wife. Certainly.

Thor disguised as Freya and Loki disguised as Freya's servant. They are going to the land of the giants. After they arrived, Thrym and the giants believe that they are Freya and her servant, even thought Thor is so bad to disguised as Freya. The example is Thor ate one ox and three barrel mead and when Thrym wants to kiss her, he sees that Freya's eyes glowing red. But Loki -with the cunning- explain, and Thrym believes that.

At the wedding ceremony,

Thrym brings the hammer and gives to Freya -actually Thor- and quickly Thor grabs the hammer and fighting the giants. And then, they come back home with the hammer.

Not all lore depicts Loki as a malevolent being.

An 18th-century ballad from the Faroe Islands, entitled Loka Thaattur, depicts Loki as a friend to man, like a Prometheus in Greek mythology. When a thurs (troll or giant) comes to take a farmers son away, the farmer and his wife pray to Odin to protect him. Odin hides the son in a field of wheat, but the thurs finds him. Odin rescues the son and takes him back to the farmer and his wife, saying that he is done hiding the son. The couple then prays to Honir, who hides the son in the neck-feathers of a swan, but again the Thurs finds him. On the third day, they pray to Loki, who hides the son amidst the eggs of a flounder. The thurs finds the flounder, but Loki instructs the boy to run into a boathouse. The giant gets his head caught in a peephole (the translation is not complete, but it appears to be a peephole) and Loki kills him by chopping off his leg and inserting a stick and a stone in the leg stump to prevent the thurs from regenerating. He takes the boy home, and the farmer and his wife embrace both of them.