If you want to actually hike this formation, then park in the Back o' Beyond road lot and realize you'll have a strenuous, almost straight up hike. Very worth it and fun for those in shape for it - realize that what goes up must come down, and climbing down from rocks is often harder than climbing up. We did this and enjoyed it - NOT for very small children or those with height issues.
IF YOU ONLY WANT THE CLASSIC PHOTO shots, then continue on SR179 to Oak Creek and Verde Valley School road. Go to Red Rock Crossings. You can get a beautiful shot of the rock and the creek. There are also come very nice, less daunting trails.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.