Most tourists that end up in Alausí do so to take the famed Devil’s Nose train ride. Besides the train ride, there is little to see in this sleepy countryside village. If you arrive on days when the train is not running, you will likely be the only visitor in town - a good opportunity to see typical small town life and chat up a few locals. There is a large statue of St. Peter in town, which is worth hiking up to. Also, there is a hill near the statue which gives a wonderful view of the town.
There are a few restaurants in town, which all serve typical Ecuadorian food. There are also a couple of bars that are usually absolutely packed with local men enjoying a futbol game. The bus and train station in town are located right on the main strip, near all the restaurants, hotels, stores and banks in Alausí.