In the Fred Dill Wildlife Preserve. Quickest access is from the Putnam Trailway - parking is available just off Route 6 in Carmel.
However if you want to do all the caches in the preserve in one shot it would probably be better to start from the Fair Street entrance, since coming at them from the opposite direction on a different trail can be confusing.
Cache is official geocache container with logbook and a few miscellaneous items: pedometers, plastic necklaces, a couple of very old Chinese coins (not worth a lot, but interesting), a hacky-sack ball, etc.