Yosemite's natural Fire Fall. Horsetail Falls, aka El Capitan Falls, drops 1500 ft. off incredible El Capitan. The best time of year to see Horsetail Falls is near the end of February. If you are here on a clear night in February, be sure to visit this waterfall at sunset. The sun strikes the rock in such a way that it appears Horsetail Falls is on fire. This is an incredible sight to see.