Its construction dates back to the period of Spanish Viceroyalty of Enrique de Guzman, Count of Olivares.

In 1629, it was transported to Largo di Palazzo (now Piazza del Plebiscito), near the Royal Palace of Naples, but since it hindered the festivals held in the plaza there, the fountain was again moved to Borgo Santa Lucia, near Castel dell'Ovo.

Further damage occurred during the sacking of Naples in 1672 by the Viceroy Pedro Antonio de Aragón.

This migratory fountain has continued to move through Naples: in 1886, it was dismantled, to reappear two years later in the Piazza Plaza della Borsa (now Plaza Giovanni Bovio), where it stood till 2000, when it was returned to Via Medina to allow for work on the Naples Metro.

In the center, on a rock, two nymphs and two satyrs hold up a saucer that features a statue of Neptune with trident; this portion was sculpted by Naccherino.