El Dorado is a legendary city of gold that originated from the myths of indigenous peoples in South America. The term originally referred to a tribal chief who was said to cover himself in gold dust and perform rituals in a lake, leading explorers to believe there was a city filled with riches waiting to be discovered. Over the centuries, many explorers, including Francisco Pizarro and Hernán Cortés, searched for El Dorado, but it was never found. The quest for this mythical city fueled numerous expeditions and contributed to the European colonization of the Americas, highlighting the allure of wealth and adventure during that era.