I think this is where I dropped down onto Newton Creek for a short while.
Just before this is a side channel of the Newton creek which cuts an island of trees, which might make for an easy descent. (But it is NOT the place I usually drop down when I think most of the snow bridges are out). This is almost 300' higher than Elk Meadows trail at Newton Creek.
This is also just before what is usually a great view of Mt Hood, on clear days.
I think the first picture in this http://www.pbase.com/photos123/neewtoncreek2010 group of pictures is from there, a much better day for scenic shots!
Another picture in that group also shows I think the slope I went back up when I decided not to cross the nearby snow bridge.