Rainbow Falls #5 is a private dam located in Deckers, Colorado, along Trout Creek. Completed in 1957, this earth dam stands at 20 feet tall and stretches 210 feet in length, with a storage capacity of 135 acre-feet. The primary purpose of Rainbow Falls #5 is for recreational use, offering visitors a serene spot to enjoy nature and water activities.

Despite its low hazard potential, Rainbow Falls #5 has been assessed as unsatisfactory in condition, with the last inspection conducted in September 2013. The dam's spillway is uncontrolled, with a width of 14 feet. The risk assessment for this structure is moderate, highlighting the need for ongoing monitoring and potential management measures to ensure its safety and integrity for the surrounding community.

In the picturesque setting of Douglas County, Colorado, Rainbow Falls #5 serves as a vital recreational resource for locals and visitors alike. As climate change impacts water resources and infrastructure, the maintenance and safety of structures like Rainbow Falls #5 become increasingly important to preserve the natural beauty and functionality of the area.