Shiraito means white thread in Japanese and it's clear how the waterfall got it's name.
It isn't the height of the waterfall that's impressive here, it's how the water streams through in hundreds of thin, threadlike streams. The water flows through the volcanic rock of the mountainside before emerging at the falls.
To get to the falls you can drive or take a bus from Karuizawa Station. Buses take around 25min each way and run one or two times an hour. Get off at the "Shiraito no Taki" bus stop (白糸の滝) and the waterfall is a 5 minute walk away.
Around the bus stop/parking area there is also a collection of stalls/shops selling souvenirs and local food.
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