R. altobueyensis is categorized as »vulnerable« (VU) on the Red List and can be found in the summit region of the Alto del Buey in the Serranía de Baudó in the Departamento Chocó, Colombia at 985-1,070 m a.s.l.. The frogs live in deforested, cool or moist mountain peaks with a low secondary regrowth of trees and grass, where they inhabit both types of vegetation.
Males can reach up to 15.5 and females up to 17 mm in length. Their coloration is uniformly yellow or golden metallic, sometimes with a greenish hue. Occasionally small spots on the backs or both on the back and belly can be noticed. There is no information available on neither diet and terrarium, nor on the husbandry and breeding. The larvae are taken individually to water-filled leaf axils of terrestrial Araceae.
This species is generally regarded as threatened, mainly because of its tiny distribution range, especially since the agricultural land use has already substantially reduced the natural habitat and even threatens to restrict it even further. In 1975, Silverstone found many larvae in the leaf axils of aracean plants. However, about a third of the larvae were dead, which Silverstone presumed to be a result of too low temperatures.