You can see the full directory under

~Library/Application Support/iPhone Simulator

You’ll be presented with a list of iOS Versions, each of which has several folders to explore. To access data that your apps have written, head over to Applications and see a list of cryptic folders, each one corresponding to one of your apps. In each you’ll find your BundleID.app, indicating which folder belongs to which app.

The Documents folder for example would contain all files that your app has saved to its local Document folder.

Library only comes up in finder by holding down the Option key, then clicking Go from the top menu.