Tautology alert–great band, if you like this kind of music.

Can’t stop listening to Dead Skeletons, from Iceland (other Icelandic bands of note: Sigur Rós, Björk, and Björk’s former band The Sugarcubes). First heard them on Pandora. Yay, Pandora!

Dead Skeletons “Om Mani Peme Hung Hri”:

Listen if you like psychedelic dirge-drone rock. Sounds a bit similar to a heavier Black Angels or Crash Worship with more music.

So what does mean?

Once again, Wikipedia to the rescue:

Oṃ maṇi padme hūṃ (Sanskrit: ओं मणिपद्मे हूं) is the six-syllabled Sanskrit mantra particularly associated with the four-armed Shadakshari form of Avalokiteshvara, the bodhisattva of compassion. Mani means “jewel” or “bead” and Padma means “the lotus flower”, the Buddhist Sacred Flower.
It is commonly carved onto rocks or written on paper which is inserted into prayer wheels, said to increase the mantra’s effects.

TL;DR: It’s a Sanskrit mantra that can serve many purposes.