This is a nice little forest service campground. It's in the trees, so the camp sites are well shielded from each other, and each site has a picnic table and a small bear box. One loop of the campground has electrical hookups. There is water available at the entrance to the campground, but the faucet is set up to make it difficult to fill your tank if you have an RV - it's not meant for that. There is no dump station at this campground.
The falls that the campground is named for are fairly meh. There's a nice walking path out to the falls, and they make a lot of noise, but they're not particularly pretty.
The campground is right along a highway heading into Grand Teton and Yellowstone, so there is some road noise, though it goes down very quickly after dark. Mostly, it's truck engines as they rev up to make the climb up to the pass.
I stayed here as an alternative to the campgrounds in the big parks, as they had electrical so I could run my furnace and water pump, but still be out in the trees, not in a village. From the campground, it's about 45 scenic minutes to Moran Junction (a little more or less depending on whether you stop to take pictures at the overlooks), and about 1.5 hours to the south entrance of Yellowstone.
There are some small (read: expensive) gas stations in the area, and a few lodges that have restaurants and convenience shops within a half hour's drive.
It may be worth mentioning that there is no cellular service at the campground, as far as I could tell (I'm on Verizon right now). I got spotty service on and off as I drove in toward Grand Teton, but I didn't get a decent data connection until I hit Moran Junction.