Great little getaway right next to downtown Toronto. My work place has thrown summer office BBQs out on Toronto Island for a few years, and it's always a blast. I love cycling and running around the island. I'm not much for Hanlan's, the clothing optional beach, but Gibraltar Point beach which is further down the southern shore is nice. It's on the opposite end of the island from the harbour and is cleaner.
I have fond childhood memories of running around the tiny Centreville amusement park with my cousins and sister. It seemed much bigger as a kid, but it really is small and geared towards small children.
The 262 cottages on Algonquin and Wards islands are a gem to behold. While its ongoing existence has always been politically contentious, the charm of the little island village is undeniable. Go for a stroll or bike ride through a remnant of old Toronto!
I don't agree with the claim that it is a tourist trap because you can have a blast and not spend anything more than $6.50 for the ferry ride with return. Or row a boat for free! Pack a picnic, a towel and change of clothes on your bike and you're good to go.