My girlfriend and I were recently in Montezuma and hiked to the three waterfalls. This was a completely awesome time for a variety of reasons, the first of which is that it is a free activity. It is recommended you wear good shoes as this is not a trivial hike. There are several guides waiting to scoop up confused looking tourists for a fee (this ended up happening to us kind of by accident) but it is completely possible to do this hike on your own, and I wish that we had. The best thing to do is get some local advice before going and then you won't need a guide, Armando at the Bakery Cafe told us exactly how to get to the three waterfalls. Once at the top you can swim in the plunge pools, jump off some of the rocks, and jump off of the small and medium-height waterfalls (note, the first waterfall you come to is the big one and several people have died trying to jump this one, therefore don't do it). Like I said before, this can be a free activity and regardless it is a must do because of the beautiful scenery and the fun you can have at the waterfalls.