OverviewThe Spy is a Flatiron formation next to the First and is a narrow fin of rock and is one of Gerry Roach's "classics". The climbing is fun, easy and exposed. The fin narrows considerably towards the top and the chance of leader or second falling off the side makes the climb a little more serious than the rating suggests. If you are comfortable on Flatiron rock and like some exposure, this is a route for you.
Getting TherePark at Chautauqua and hike towards the First Flatiron. Take the junction for the First Flatironette. Skirt the First Flatironette on the north side until you reach the base of the Spy. This is a good trail and seems like you're hiking too far at first. Eventually it will bear left and you will have to boulder hop a bit to get to the base of the route. The Spy is connected to the First Flatironette at the bottom but they separate higher up.
Red TapeThe Spy is free from the usual annual closures in the Flatirons. Of course any formation could be closed for nesting under unusual conditions so it might not be a bad idea to check just in case.
RoutesThere are two main routes on the Spy. The East Ridge and Spy vs. Spy.
DescentWork your way along the ridge west from the summit. It will go down then up and eventually you will reach a dead end. The solution here is to jump to the other side. It looks such worse than it is and having the braver person jump first and hip belay the others over will help boost confidence.
Once down, merely follow the trail around the top of the Spy and follow it down the north side of the formation. This trail eventually connects with the approach trail and is easy to follow. The south side is hikeable part way and then cliffs out. I'm sure it could be downclimbed but it's filled with needles and loose junk so I wouldn't see the point with a solid trail on the other side.
External LinksHere is a good description at Mountain Project
Here is a list of Closures in the Flatirons.