Its name comes from the fact that the lake did not have a name before the Huascaran National Park was created in 1975. The need to include all of the lakes of the proposed park into a list forced authorities to give a number-based names to those without a traditional name (lakes such as Allicocha, Auquiscocha or Palcacocha, had a names in Hispanicized Quechua).
It is one of the more important tourist destinations of the region, visited mainly by hiking and mountaineering enthusiasts, given the simple access and the spectacular scenery. The hiking route to the lagoon starts from the Cebolla Pampa campground and runs along the brook that runs down from the same lake, and forms several waterfalls and cataracts.