The Dragonfly is the fastest form of transportation across the vast expanses of Outworld, aside from sorcery. There are many of these flying transports, each with its own set of destinations. The only game in which this arena was included was Mortal Kombat: Deadly Alliance.
This is the stage where Frost betrayed Sub-Zero and took away his Dragon Medallion, but was unable to control its immense power and ended up frozen by it.