Lake Carezza, located in the Dolomites in South Tyrol, is famous for its spectacular colors, ranging from emerald green to deep blue, earning it the nickname "Rainbow Lake." Surrounded by a fir forest and with the Latemar massif in the background, it offers a picture-postcard landscape. Local legend has it that a nymph lived in the lake and that a magician, in an attempt to win her over, created a rainbow above the lake, but she, frightened, disappeared forever. The lake is a popular destination for walking and photography because of its natural beauty.