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Olathe little beyond. Day Trips Fire Water Lodge Day Trip 3. Elephant Butte Lake State Park, Elephant Butte Dam. Elephant Butte Lake is the largest lake in Big-Indian New Mexico. A reservoir lake of the Rio Grande. La Paloma Hot Springs and Spa Truth or Consequences. La Paloma Hot Springs & Spa in Truth or Consequences, NM has only two Artesian hot spring bathhouses. Lodging rustic or contemporary, Full spa services, pet friendly. Balloon Fiestas New Mexico Tourism Hot Air Balloon. ALBUQUERQUE INTERNATIONAL BALLOON FIESTA. For more than three decades, guests from New-Florence all over the world come to Albuquerque each October to celebrate ballooning at the.