IC 5086, often referred to as The Black Waterfall, is a dark nebula in the constellation Cygnus. Its distinctive appearance is created by dense clouds of interstellar dust that obscure the bright hydrogen emission behind them, producing the impression of a cascading column of dark material.

Located within the rich H II region surrounding Sadr, IC 5086 lies adjacent to the Butterfly Nebula (IC 1318). The contrast between the dark dust lanes and the surrounding emission nebulosity makes this field an interesting target for astrophotography.