This is the left hand section of the artwork by Pauline Baynes.

It features a scene with the Fellowship and what is probably a Hobbit village in the foreground, fading into rivers and mountains in the distance.  In the far distance are two green peaks and one white peak - these may be Amon Hen, Amon Lhaw and Tol Brandir at the head of the Falls of Rauros.  This panel could then represent the journey undertaken in the first volume of The Lord of the Rings - The Fellowship of the Ring.