I grew up in this area and recently went back with friends to visit family. This was one of my favorite parks as a child and though I've been there dozens of times I brought French friends since we were near by. They loved it. The area near the waterfall base is perfect on a hot summer day for an outdoor picnic. The cool spring water hitting the rocks at the base makes the whole area noticeably cooler than the surrounding area.
When you get to the visitors center don't forget to sign in. When you leave you get the option of turning left toward the source of the spring, which is a large pool area with two spillways on either side. The ducks and geese tend to stay on this side, so don't forget to bring a bit of bread. Don't forget to touch the water (carefully!) here. It's always around 55F so in the summer it seems especially cool and is crystal clear. You're not allowed to actually get IN the water here, since it is not safe (think lots of water filled caves).
To the right of the visitor's center is the waterfall and station. This has information about the spring and the town of Mammoth Springs, AR. Beware of snakes as during certain times of the year they are everywhere in Arkansas. We saw five right past the waterfall toward the train tracks.
The trail makes a nice loop around the small park and includes activities for children behind the park. You can also rent pavilions and grill in this area. You can rent a paddle boat and go out to the pooled water just past the source of the spring.
The Ozarks are full of super friendly people, so feel free to chat with locals. I recommend eating in downtown Mammoth at either The River Bend or Fred's for some authentic southern food (that is super reasonably priced), if you're not going to picnic.
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