I've seen it a million times, and was experimenting with a monster 270mm f/2.8 prime lens over the weekend, so I could finally get up close and personal with it. It's in either the West Ridge Wall, El Cap Gully or, if you prefer, the East Ridge Wall, Ribbon Falls Amphitheater. The rock face at frame right is the western face of El Capitan.
West Ridge Wall, El Cap Gully by tanngrisnir3, on Flickr