Racing Rapids is adjacent to Santa's Village, although it's a separate park. It is dedicated to water sports. They have large water slides that have rapid descent and slow descent. I remember being scared of the rapid water slide when I was younger.
It's a great place to visit in the summer time when the heat is blazing outside. There are concession stands inside that offer standard fare such as burgers, pizza, fries, sodas, etc.
Bring your best swimming trunks and get ready for a splash. I think you will enjoy yourself and get to be a kid again.