This is a quick 1 mile loop to a terrific viewpoint over Crater Lake down to the Phantom Ship Island below. You'll have great views of the towering walls of the rim around you as you hike across a nice meadow to the edge of the rim.
Follow the Park Rim Road east from the Visitor Center or Rim Village. When you pass Videa Waterfall keep an eye out for the trailhead on the next tight turn.
There is a $15 to $20 fee to enter the National Park.
Use my driving tour guide for the park along with this guide.
Here through a short trail into the trees to the edge of the rim you will have great views down towards the Phantom Ship. For scale check out the comparison of the boat (which holds 30+ people) next to the Phantom Ship Island.