Learn Spanish (Latin America): Lo absurdo e increíble del mito es divertido. - The absurd and incredible part of the myth is fun.

Lo doesn't match with mito. Instead, it groups with the adjectives absurdo (absurd) and increíble (incredible) to create an abstract noun phrase. The formula lo + [adjective] translates to "the [adjective] thing" or "the [adjective] part". So, lo absurdo e increíble means "the absurd and incredible part".

Why is the word for "and" e instead of y in absurdo e increíble?

In Spanish, when the word for "and" (y) comes right before a word that starts with the same ee sound (words starting with i- or hi-), it changes to e. This prevents the two identical sounds from blending together. Since increíble starts with an i, we must use e increíble instead of y increíble.

How does del mito fit into the sentence structure?

Del is the mandatory contraction of de + el ("of the"). When you use the lo + [adjective] structure, it is very common to follow it with de to specify what you are talking about. So, lo absurdo... del mito literally means "the absurd thing... of the myth."