Depending on the Arkansas region you are visiting, peak colors show up any time from End of October to Mid November. Here is guide to view Fall Foliage in Arkansas.
In Ozark mountain area colors peak around late October. The unpolluted and free flowing buffalo national river, little mountain town of Jasper along Hwy 7, Eureka Springs town are some of the best places to experience fall colors in Ozark mountains. This route passing from Ozark mountain is top 15 scenic drives in nation for fall foliage. There are beautiful cabins for lodging along Buffalo River, in Jasper and in Eureka Springs.
In Central Arkansas/Quachita Mountains area colors peak around Early November. Here there are some beautiful little towns like Mena, Hot Springs and Little Rock. From Mena passes this national scenic Highway called "Talimena National Scenic Byway". It is the best scenic drive in Quachita mountains to see fall colors.
In the same area there is the Mountain State Park called Queen Wilhelmina State Park. On the mountain top in the clouds there are beautiful camp sites and a lodge with 36 rooms. Very beautiful experience.
Near Hot Springs area also you have largest man made lake in Arkansas Quachita Lake and it is surrounded by Quachita National Forest. It is also very beautiful place to see fall colors.
Regardless of the area you are visiting in Arkansas you have abundant natural beauty to explore.