This is the larger waterfall back the trail. There is parking near the top of the falls, but the only time I've been to the top, I was unaware of the parking, so I took the long way in... oh, and did I mention it was in a complete downpour? I've also hiked (climbed?) to the middle section, though I don't think I'd do it again. Here is a description of the falls from another website:
This is the highest two-tiered waterfall in New York State. Its upper tier measures an impressive 175 feet, while its lower tier is 85 feet tall. The falls are truly spectacular, explaining the fact that this is a very popular area - one of the best visited locations in the Catskills. Don't expect to be alone here, unless perhaps you go on a weekday when it's raining.
Water level varies significantly at Kaaterskill Falls. In late summer, the water flow can reduce to a trickle, or even virtually dry up completely.
The falls are best appreciated from a distance, where the entire scene can be taken in. There used to be a trail that climbed to the top of the falls, but it is now officially closed and unmaintained. Deaths and injuries have occurred here, so do be careful. However, with great difficulty and care, it is possible to climb to the base of the upper tier. This is a particularly nice area, as the overhanging rock of the upper falls creates a large amphitheater like area behind the falls. Also, there is a beautiful pool before the water continues its course over the lower tier of Kaaterskill Falls.