The ride is across from "It's a Small World" and pretty much right beside Mickey's Philharmagic. It is kinda tucked around the corner from Mickey's Philharmagic. For some reason every time I've been to Disney World this ride seems to have the longest ride and/or a long gap to get a Fastpass. I would suggest if you are in that area, get a Fast Pass for that ride before you do any other rides in that area. Depending on how long you have between when you get your Fast Pass and when you can use your Fast Pass, I would do the rides in that area to kill time if you don't have too long to wait. I would do Mickey's Philharmagic, It's A Small World, Dumbo, the Carousel, etc.
If you have a few hours to wait, I would do a whole bunch of other rides and then come back to that area later in the day.
I've been to Disney 10 times now and I would say the best rides to get a Fast Pass for in Magic Kingdom are:
1.Peter Pan
2.Jungle Cruise
3.Space Mountain
Most of the others aren't as bad but you just never know....
Have fun! Hope this helps!