This is a geothermal geyser found in Nevada, which originally started when the landowners were drilling for the water.
The water from the geyser is thrust skywards on a continual basis. The spouts of water squirt out two meters in the air, spraying the surrounding thirty or more pools with a fresh source of water. The different mix of minerals (which includes sulphur) reacting with the oxygen in the air help to give the geyser its glorious colors.
The multiple spouts mean that a single cone of enormous size has not been able to develop. Yet the alien looking mound is something quite extraordinary, especially with its myriad of colors. The other factor in the strange coloration of the mound is the fact that it is covered with thermophilic algae which as a heat tolerant microorganism thrives in this sort of hot environment.
See more pictures of the geyser and read more here.