To visit this incredible place, take a bus going into or out of Banos Ecuador and get off at the "Paradero Las Hortencias". Once you're off the bus, you will see a sign that says "El Palace"; follow the trail down from that point -- it takes about 15 minutes down and 25 minutes to walk back up. After the long walk, on your right you will see a sign that looks like the entrance to a national park. Just walk up those steps and you'll come to a restaurant on your left and steps leading up to the right.
At the top of the steps and trail is a spectacular waterfall that's loud and misty. Take your camera! The man who owns the restaurant built the lookout to the waterfall and charges $.50 to go up. The restaurant has great food (all natural) and lunches are only $2-4. The patio of the restaurant overlooks a beautiful gorge. My tour guide took me here. It might not be easy to find this place if you don't speak Spanish, but at least give it a try. It's one of those things that you only see once in your life.