The Navajo community named Steamboat “Hóyee,” which roughly translates to “State of Fright.” The meaning has been said to be attributed to a V shaped canyon, which converges with an overhanging cliff. At the convergence is a natural spring. Historically, the spring was a watering hole for passers-by. Local people feared being ambushed by enemies or mountain lions if they got water there. The name Steamboat refers to a large rock formation that resembles a steamship.