You need to be on the boat.
Map
Treehouse Obelisk
North 3
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You need to be moving.
You need to be moving clockwise.
The puzzle is NOT green.
Start your boat ride at the Quarry. Go clockwise to the Tree House area, picking the route that goes under the shipwreck. Don't go too fast.
As you get near the shipwreck, you'll see a circle shaped hole in the shipwreck. Start your hole on that circle, then keep your eyes open as you draw your line.
This one is a little quirky. The color of the line isn't consistent; it varies depending on what you're seeing through the hole at any point.
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Complete spoiler:
Roll over each black area below for hints.
Each new hint gives away more than the previous one.
The puzzle starts outside the shipwreck.
The starting point is very close to the starting point of another puzzle.
You have to pick the boat route that goes under the shipwreck.
Show hints
Intro
This one is pretty cool.
THE WITNESS - ENVIRONMENTAL PUZZLE HINT GUIDE