Staubbach Falls:Can be seen from the center of town.
Trümmelbach Falls: 3 km behind Lauterbrunnen are the famous Trümmelbach glacier water falls . Bus from Lauterbrunnen for Sfr3. Open April-November (exact dates are seasonal, best to ring to check if they are open if you are planning to visit during the fringe months) Entrance fee Sfr12 (US dollars, pounds, and euros accepted).
The Lauterbrunnen area is famous for mountainbiking. Rent an Interlaken bike (for eg, there's a rental store at the West station) and ride to the end of the valley the place called Stechelberg. For sFR.20.- take your bike in the gondula up to Mürren. From Mürren follow the red bike trail signs to Winteregg. It is an easy trail for everybody, not much up hill. From Winteregg enjoy a fast downhill to Isenfluh or back to Lauterbrunnen. This tour can also easy be started in Interlaken: it is only 45 minutes more biking, and the round trip from Interlaken needs 3-5 hours. Get your great quality bike maps and all information at rental places in Interlaken.
Hike up to Wengwald by walking up the trail starting beside the townhall. Cross the river and follow the signs to Wengen until you see a sign pointing towards Wengwald. Hike up this way until you get great views of the Lauterbrunnen valley. Takes only 1.5-2 hours if going slowly.
Sternen Valley Hostel, Lauterbrunnen. Tel & fax: +41 33 855 20 08, firstname.lastname@example.org. Cheap, homely and the hosts are sound. One place you won't want to leave & somewhere you recommend to travellers, friends and family. Set in the heart of the Lauterbrunnen Valley, just up the road from the train station and minutes from Staubbach Falls, you feel your in a fairy tale land where you need to blink several times just to allow your brain to accept that your really there. Dorm: chf 25 (bargain).