A kilometer west of the center, this is a great viewpoint with a small obelisk painted in Argentine colors at the impressive confluence of the Ríos Paraná and Iguazú. From here you can see Brazil and Paraguay, with similar markers on their sides. It's usually pretty empty during the day but gets busy in the evening when visitors descend to watch the light show at 7:30pm which features colorful fountains and hologram like videos of folk dancers projected onto the mist.
A desultory artesanía market is also here.