[3][4] As the island is constantly rotating on its own axis due to the flow of the river beneath it, shearing occurs around its outer edge, eroding the island into its circular shape, similar to ice disks.

[5][6] The island is approximately 118 m (387 ft) in diameter, though will get smaller over time as the erosion occurs.

[9][10] The island has been compared to a similarly shaped and rotating floating ice disk phenomenon observed in the Presumpscot River near Westbrook, Maine.

[11][12] El Ojo was discovered by Argentinian filmmaker Sergio Neuspiller and research has shown that the island has existed at least since 2003.

In 2016, Neuspiller and hydraulic engineer Ricardo Petroni started crowdfunding an expedition to the island hoping to perform scuba diving, drone data collection, and soil and plant analysis; however, their fundraising attempts failed, reaching only US$9,898 of their US$50,000 goal.