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You see this from the rafting and from a rocky beach at the side of the river. It's a lovely rock, but there is not so much else to see. You can walk there from Tiger Roaring Rock or Ray of Sky.
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大王峰
You can walk to this place from Wuyi Palace and even up to a nearby pavilion. Not done by most tourists as the rock can not be climbed and is clearly visible from the resort, river, palace, and during the Impressions DaHongPao performance.
武夷宫
A temple with some display cases. This is included in the ticket prices and actually nobody checks tickets there because there is nothing to see. You can walk through it in 5 minutes and you will end up at this location for either the buses or the rafting trip so you might as well have a quick peek.
虎啸岩
Great view over the surrounding rocky area, but the peak is closed off. There are still really nice places to see and the path continues to the Ray of Sky cave to the south or to Jade Beauty Peak to the north.
天游峰, literally "Heavenly Tour Peak"
Big stone peak with breathtaking views on the nine-bend river and surrounding peaks. You can only climb one peak these days unless you want to climb over the "do not cross" signs like some tourists do (no-one will stop you), or look for small poorly-maintained trails running into the forest. The main peak can be really crowded and gets a little steep towards the end. You can have a little rest at the top (extortionately overpriced snacks and souvenirs) and return via an easier route at the back for 1.5 km. The Peach Blossom Cave and its temple are also 1.5 km away but unless you are prepared for a long hike you will have to return along the river to the same bus stop.
螺丝洞
Not famous but 200 m from Ray of Sky. A rock is carved from the bottom which is an amazing structure. Go there for a photo if you are already nearby anyway. As of Nov 2019, it is not accessible due to track maintenance.
一线天
Two rocks leaning together, leaving a narrow strip of sky visible. There is one part to just take pictures and another one to walk through. The latter is not so recommended if there are lots of tourists because it gets really narrow (30 cm at one point) and people will go really slow, it's steep, the steps are tricky, dark, wet, and slippery. Give this a miss if you are uncomfortable with crowds or tight spaces. When you reach the other side you are just going to walk down steps with little experience gained but crowding. The point is just looking up to the gap from below anyway. Also they placed the smoking area inside the cave so this can get stuffy. You can reach this via bus or walk from Tiger Roaring Rock or Jade Beauty Peak.