The Forgotten Waterfall is a stage that makes its debut in Street Fighter V.
The Forgotten Waterfall arena takes place in a mountainous region of New Zealand. There are numerous New Zealand fauna observing the fight, such as takahē birds and a tuatara resting on a log, as well as sheep on the mountainside to the left of the stage. On the right side of the stage, when an opponent is knocked down, New Zealand greater short-tailed bats fly out from the cave. There is a large skeleton in the water.
The right side of the stage has a waterfall and vines that hides a cave. Inside this cave there is an Egyptian-like structure that contains the tomb of Charlie Nash, where Kolin had stored his dead body, awaiting the time to revive him in order to serve Gill.
The stage has two settings, its night setting is called Mysterious Cove. Most of the fauna is absent in this version.