La Palma is a great place to visit, and this itinerary is fantastic (including the "other" waterfall suggested by SiMone above).
But the Cascada de Los Colores is a tourist trap.
Actually:
- It is not colored.
- it is not natural, but a small, insignificant artificial dam
- Looks 30 m high, but is actually only 3.5 m.
- There is little water most of the year.
That doesn't mean it's not worth the hike! It is just good to go there and come back and enjoy the beautiful trip. But do not expect to see such a magical natural phenomenon.
WARNING: in some sections, the route moves away from the bottom of the barranco to avoid dangerous areas due to the possibility of rockfall and sudden flooding. Be extremely careful in these sections, especially if the weather has been bad or if you notice bad weather upstream. Finally, there is a section overhung by a large traverse rock that is difficult to pass, especially uphill. Better to transit by the suggested route, especially if there is a lot of water.