Round your lips into a tight circle. Lift the back of your tongue toward the soft palate and add voice.

Americans pronounce waterfall as WAH-ter-fahl (/ˈwɑɾərˌfɑl/). In "waterfall", the "t" between vowels sounds like a quick "d" — the tongue briefly taps the ridge behind the upper teeth. This is called the Flap T, and it's one of the defining features of casual American English. It comes out as WAH·ter·FAHL. Stress falls on the first syllable — keep everything else short and quick. You'll hear it in sentences like "The waterfall cascades down the side of the cliff".
Record yourself saying "waterfall" and play it back. The mic stays on your device — nothing's uploaded.
3 syllables, 7 sounds. Tap a syllable to jump to its row, then explore each sound's mouth shape and how it's made.
Round your lips into a tight circle. Lift the back of your tongue toward the soft palate and add voice.

Relax your lips and drop your jaw significantly. The tongue tip lightly touches behind the bottom front teeth and the back part of the tongue presses down a little to create more dark space in the back of the mouth.

Lift your bottom lip to touch the very bottom of your top front teeth. Blow air through this contact point without voicing.

Relax your lips and drop your jaw significantly. The tongue tip lightly touches behind the bottom front teeth and the back part of the tongue presses down a little to create more dark space in the back of the mouth.

Keep the tongue tip down and pull the back of the tongue up toward the throat. The 'dark' sound comes from the back.

The textbook way isn't wrong — it's just not how anyone actually says it.
In "waterfall", the "t" between vowels sounds like a quick "d" — the tongue briefly taps the ridge behind the upper teeth. /t/ or /d/ becomes a quick tap [ɾ] — sounds like a soft D. The tongue briefly taps the ridge behind the upper teeth.
The L in "waterfall" is a dark L — the back of the tongue rises toward the soft palate, adding a small "uh" quality before the L. Dark L adds a small schwa-like "uh" before the L. The back of the tongue lifts toward the soft palate.
Stress falls on the first syllable, not the others. Stretch WAH — keep everything else short and quick.
Americans use a relaxed retroflex R — the tongue curls back rather than rolling. The R is one continuous sound with the vowel before it, not two separate sounds.