Volcano Bay Nights is back at Universal Orlando. The after-hours, limited-capacity event transforms Universal's water park into a private tropical-themed party with characters, live entertainment, snacks, rides and the 200-foot Krakatau volcano at the center of the activities. Here's what you need to know about the event. CLICK TO DOWNLOAD THE FOX LOCAL APP What is Volcano Bay Nights? Now in its second year, this limited-capacity event takes place after the park has closed to regular day guests.