The actual trailhead for this trail is located in Palmer Lake. The Ice Cave Creek Trail is a new trail that splits off the Palmer Lake to Limbaugh Canyon (715 Trail)
trail to the north. There are reputedly ice caves in the area (hence, the name), but I haven't located these yet.
This trail is fairly easy to find. After reaching the first of the two Palmer Lake reservoirs, follow the dirt road around the north edge; after reaching a boulder-strewn canyon on your left begin looking for an unmarked, but well traveled, singletrack trail on your right - approximately 25 yards beyond the boulders. This is the actual entrance to the Ice Creek Trail network. Do not commit to the earlier game trails that start immediately adjacent to the boulders; although passable, these are far less enjoyable than the actual trail.
After the initial switchbacked section, the trail drops slightly into Ice Cave Creek Canyon, which follows the track of Ice Cave Creek through pumpkin - to cottage-sized boulders. The view of the opposite rock slope is very nice, especially when the light is right. Eventually, the trail comes to creek crossing before continuing a short distance further up the canyon.
In May, when the snow melt is ongoing, this is a fast moving and deep stream. The crossing requires either a bit of boulder-hopping or the will to make a perilous crossing on a pair of rickety logs. Be careful!