The archipelago is the only Spanish region where a volcanic eruption has taken place in the modern era. Most beaches along the Canaries. Crested Gloster Canary Yellow Serinus Canaria Domestica Canary Animals Fauna The Canary Islands formed millions of years ago through volcanic eruption and some of the volcanoes are still active. . Four islands Tenerife Lanzarote El Hierro and La Palma have had eruptions since their European discovery.