It is in World of Warcraft, it is west of Loch Modan, East of Iron Forge, and South of the wetlands, what is this place? It is circled in the picture.

It's the ironforge Airport!
I think I have a video on YouTube about it, let me find it!

YouTube - IF airport (http://es.youtube.com/watch?v=4Z2WzV3LAhQ)

That's my old mage pre-BC at the airport, I'm sorry the exploit to get there isn't at the video, there are other videos on YouTube however that show(ed) how to get there.
I don't know if it still works

Probably a level 10-12 place I'm guessing since gol bol Quarry is like 7-10

The Dun Morogh airfield is an airfield located in a high mountain valley northeast of the dwarven capital of Ironforge. It has two landing strips, and several gnome pilots are there standing next to their planes or tinkering with them. Around the airfield there are a series of dwarven buildings and structures. Mountaineers from Ironforge patrol the area, and some members of the Stormpike Guard can be found here too. North of the airfield there is a gryphon roost, but it is inactive and does not offer a flight path. Further north, near Wetlands, there is a crashed gnome plane along with some bones.

South of the airfield there is a small area with three tanks. Some Gnomeregan Evacuees have found a way out of their irradiated city, a lone pet trainer offers her service to hunters, and some gnomes and dwarves are dancing in the snow. Here is a big tower with a sealed entrance to a tunnel which is similar to the tunnel in North Gate Pass. The tunnel continues back the same distance as the others located around Dun Morogh, at an upward incline. When it reaches it's peak, it drops off into midair. If enough distance from this jump point can be gained then it is possible to land in the Deeprun Tram Terminal of Ironforge. However, no other player-characters have been observed via this method, although NPCs are present. In addition, the portal between the Tram Terminal and Tinkertown does not function when reached via this method, and instead players pass straight through without pause.

In the same valley there exists a frozen lake to the south of the Airstrip The southwestern tip of this lake has a cave from which Frostmane Trolls skirmish with Ironforge dwarves on the lake itself. A few more trolls can be found by a cave northwest of the summit with the flag.

There is also a black bear mother watching over her offspring northwest of the gryphon roost just by a waterfall.

The whole area has not been fully developed, and it is easily visible that it was not meant to be visited by players in its current state. The guards and mountaineers give you directions to locations in Kharanos or Ironforge, and the gnomish pilots have the texts of the Mirage Raceway where gnomes race against goblins. The buildings and tunnels have either closed doors or walls in front of them, and some graphic glitches can be found.

The Airfield and lake are immediately visible on the map of Dun Morogh for new players, leading many to wonder how to get there.

The Airfield Was accessible by death knights when Wrath of the Lich King first came out. There was a server side patch that prevented death knights from accessing this area soon after it was released.