UPDATE 9:30AM: A woman who fell from the top of a ride at the Cairns Showgrounds late yesterday is in the hospital's intensive care unit in a critical but stable condition.

Initial reports from witnesses at the scene claimed the woman had died, with people who saw the horror accident unfold heard "screaming that she's died".

The woman, believed to be in her 20s, fell while at the top of a ride known as The Hangover at about 5.30pm, pictured in the middle of the video taken just after the tragic accident.

Other witnesses said the ride continued to operate after the woman fell with workers unable to stop its movement. There are varying reports of the distance the women fell, ranging from 15 metres to 30 metres.

Paramedics at the scene described her injuries as serious and traumatic. Their quick work in stabilising and rushing her to Cairns Hospital's Emergency Department has been commended by onlookers.

Writing on social media, a local mother said her children witnessed the accident: "They said they heard her yell out 'I'm falling' then it was too late, my son said he's never going to a Show ever again as they were just about to hop on that ride. They left after it and he said he will never forget the sound, ever." 

MORE TO COME...