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Directions: From I-25, exit at Harmony Road and head west all the way to the foothills.  After Taft Hill Road, Harmony Road becomes County Road 38 E, continue straight and head up to Horsetooth Reservoir.  At the Reservoir, turn right (north) onto Centennial Drive/CO Rd 23.  Follow this road north, following Horsetooth Reservoir and turn right at the intersection about half way.  Continue north to the end of the Reservoir and Turn left at the sign for Lory State Park onto Co Rd 25G. Co Rd 25 G turns to the south and soon arrives at Lory State Park.
Enter Lory State Park and drive past the VC on the main road.  Turn right at the Timber Group Picnic Area and park.  The trailhead is just past the amphitheater. 

The Waterfall is short but a cool hike nonetheless.  The trail runs through a stand of cottonwood trees to a narrow canyon with a cascade and waterfall.  There are two footbridges and stone steps carved into the cliffs to take you to the end of the trail and the waterfall.  The trail is short (only 1 1/10 th of a mile each way) but it is great for kids or a short diversion from the picnic grounds.  If you're visiting the park anyway, the Waterfall Trail is definitely worth the detour.