Living in water, living on land, being an amphibian must be grand! This little critter is well hidden near the water's edge in a cozy little hidey-hole. Difficulty should be around a 2.5, but I wanted to keep this cache accessible to all (no just premium members).
Step just off the trail toward the lake and look back to where you came from to find a mini merky cave. 
Terrain could be a little damp depending on weather conditions. The image included with this cache description is a bit of a spoiler - use the hint first, then if you still need help, check out the attached photo.
Use waypoints to find the closest Bluffside Farm parking area. It's about a 5-10 minute walk from there. Trail map also included in the images.