Originally I thought that this was the way to get across Hwy 17 to Santa's Village (when it was still around), but I don't think that's accurate. In any case, it was a fun little exploration.
The approach to this cache begins at 37 04.061 / 121 59.809. Do NOT approach this cache from the East - while it is accessible, the land is private property. When you find the cache you'll be very close to the original grounds of Santa's Village.
The cache is a decon container. The terrain rating reflects a short walk but with difficult footing to get to the starting coords. Waterproof boots/Teva-type sandals recommended along with a flashlight (although it's not needed). NOT recommended at night.
Bring your own writing instrument.