Tower of Jewels is one of the common names for Echium wildpretii. Some of the other are red bugloss, Tenerife bugloss or Mount Teide bugloss. The Spanish name is tajinaste grande or tajinaste rojo, although the ones on La Palma can be blue or mauve. The individual flowers are tiny, but the spikes can be anything up to 3 m high.
And they’re in flower on the peaks of La Palma. Gorgeous.
You can see pictures of related plants at http://lapalma-island.com/2011/05/tower-of-jewels/