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This small pond is located between Broken Fang Cave and Gjukar's Monument. It contains a giant fossilized mudcrab and several normal living mudcrabs of different sizes.
Next to the pond is a small den that contains a searchable skeleton body as well as a sword and shield.
Quests
During the quest "Kyne's Sacred Trials", the Dragonborn is asked to kill the Guardian Mudcrab. The Guardian Mudcrab is far larger than a normal Mudcrab and it will spawn at this location, suggesting that it is the spirit of the fossilized giant mudcrab.