Plaikini Falls, Crater Lake Park-Day 1-At mile 3.8 is Watchman Overlook. From here, see Wizard Island, a cinder cone that rises 767 ft. above the surface of the lake that erupted out of Crater Lake approximately 7,300 years ago. It is called Wizard Island as it looks like a sorcerer’s hat. Walk the Watchman Peak Trail (0.8 miles) that switchbacks 650 ft. to a fire tower atop the 8,013 ft. peak called The Watchman. It offers views in all directions and provides a birds eye view of Wizard Island.