This is the first of three boardwalks that will lead to the cloudland. You can fall off, but it's not too difficult to stay on the path. It's a good idea to save before wondering around here. Also, the dwarf may appear in this area and rob you. Because of how narrow the paths are, he's almost impossible to avoid if he does appear. Typically, if you move quickly, you won't have to worried about him. You can also use the Magic Ring to keep him from finding you, but keep in mind it will only last around 60 seconds and you may want to use it with the Giant.