the volcano is right in front of the mirage, surrounded by an island of water that looks like a lake. every hour at night there's this short fire show, where the volcano spits HUGE fire and shoots water in sync with their tribal kind of music.
it was really cool to feel the heat from the fire, even though you are really far from it. however, the show is not equally created so all 360 degrees is the same. in fact the entire show is on the mirage side, so if you are on the strip (las vegas blvd), you may think you're watching the show, but it's only a portion of it. so make sure you watch it from the right side.