One of the most popular outings from Bariloche is a trip on the Circuito Chico, a scenic 65 kilometer loop of winding lakeshore road that will leave you ooohhing and aaahhing at every bend. Although the first 15 or so kilometers are scattered with high-end shops and restaurants that cater to the tourists, the western section of the route opens into incredible lake and mountain vistas.
The charming Capilla San Eduardo and glitzy Llao Llao resort lie along the route and are worth a stop for both their unique architecture and views. Just past Llao Llao, several forest trails and pretty pebble beaches create a more rugged scenery. The final point of interest on the track is the Colonia Suiza, a swiss settlement with some tasty dining spots.
Relatively regular buses run sections of the route (#20 for Llao Llao and Puerto Pañuelo or #10 for Colonia Suiza), leaving from the Bariloche terminal and from points between the town center and the circuit. Alternatively, you can take an organized tour (around $15-$20 for four hours) and travel the length of the loop.