Commissioned by Ferdinand VII to commemorate the first anniversary of the birth of Princess Isabella, later to become Isabella II, the Galápagos Fountain is also known by her name. It was originally constructed in the Red de San Luis in 1832 and remained there for nearly 50 years until it was moved in 1879 to Glorieta de Nicaragua in the Retiro Park, near the big lake and the bandstand.

The fountain shows three fairies offering their gifts to the princess and the sculpture reflects good wishes for the future queen. The dolphins ridden by four children are associated with intelligence, wisdom and prudence; the marine elements represent fertility, as water is the source of all life, and the Galápagos tortoises symbolise longevity.