Themed around the seaside funfairs of years gone by, Perilous Plunge is a classic "shoot-the-chutes"-style ride. It sees guest being carried in large boats to the top of a 121-foot tower, before plummeting down a 115-foot, 75-degree drop into a splash zone below. Its height made it the tallest water ride in the world when it debuted in September 2000.

Perilous Plunge underwent significant changes after a fatal accident in 2001 which saw a rider killed after falling out of a boat during the descent. This resulted in new, smaller boats being installed, reducing the size of the splash at the bottom, but enabling essential updates to the safety restraint system.