Catarata Arco Iris, Waterfall in Noel Kempff Mercado National Park, Bolivia.

Catarata Arco Iris is a waterfall located in Noel Kempff Mercado National Park in the Santa Cruz Department, fed by the Paucerna River. The water drops vertically through dense jungle vegetation that surrounds the entire cascade on the Caparu Plateau.

The waterfall lies on the Paucerna River, a tributary of the Iténez, where the river drops from the Huanchaca Plateau. About 4 km further northwest and downstream on the same river stands the Catarata Ahlfeld, the neighbouring fall in Noel Kempff Mercado National Park.

The name Catarata Arco Iris derives from the rainbow effect produced when sunlight interacts with the water mist during afternoon hours.

Reaching the waterfall requires a three-hour hike starting from Ahlfeld campsite through jungle terrain. The trail follows established paths and leads to multiple observation points with good views.

About 4 km northwest and downstream on the same Paucerna River lies Catarata Ahlfeld, a second waterfall of the park. The Paucerna itself is a tributary of the Río Iténez, and the falls form where the river drops off the Huanchaca Plateau, also called the Caparú meseta.