Warmouth or Walleye have not been seen in this lake for years.
It is a lake fed by both stream and spring.
Shanty Hollow has a unique sandstone geology, underlying shale and subsequent limestone. It is popular with the local population for rock climbing and rappelling. It has a waterfall and a spring. Most of the land surrounding the lake is privately owned. There are many fossil molds and impressions of wood and bark structures in the sandstone facies, and many of these have been replaced with iron concretions.
The lake has a boat ramp and parking area that are in general to major disrepair.[citation needed] Trash and stray or drop off animals are a continued problem due to the rural location of the lake.[6] Vandalism is highly present in the parking area.[6] The main trail is to the right of the parking area, leading down towards the sandstone bluffs and an area called White Buffalo; it is called this due to a pastel drawing of a white buffalo or wolf drawn on the palisades of a box type canyon. Multiple climbing routes are located along this trail with numerous rock shelters and boulders to climb. Further down, the trail gains elevation and leads to a unique section of rock where the water has carved a zig-zag of formations and least 12 feet deep and 30 feet long; this is known affectionately as the "Mini Grand Canyon".[citation needed] Past numerous dripping springs lies a 150 feet (46 m) waterfall. This area is used as a free fall rappel area and has a picnic area. Across the creek are more sandstone bluffs and rock shelters that contain delicate wind formed structures in the sandstone known as honeycomb formations.
Shanty Hollow lake is considered one of the top ten most unusual and beautiful places in South Central Kentucky.[citation needed]