The swath of Yellowstone known as Canyon is a must see for families. The Grand Canyon of the Yellowstone is one of the most picturesque points in Yellowstone National Park. Hayden Valley is one of the top spots for viewing wildlife. Mt. Washburn is the most accessible of Yellowstone's towering peaks. And while hydrothermal activity, earthquakes and explosions have colored and shaped ancient layers of rock - Mt. Washburn is a result of volcanic activity and the colors at Grand Canyon of Yellowstone are a result of 'cooked' iron in rhyolite - the surface of this section of the park has little to do with underground heat. Glaciers shaped the ancient lakebed known as Hayden Valley and deposited the soil that makes this area a supreme wildlife habitat. The Grand Canyon of the Yellowstone, but 10,000 years in the making, was formed by the natural process called erosion. The Yellowstone River created the canyon and falls. The only geysers and hot springs are on the canyon floor.