This isn't really a hike - more of a walk if you are just going around this man made lake. Take the road to Elbow Falls and keep going past the gate that is closed in the winter. Go to the end of the paved highway - if you go straight at that point you will be on gravel - the route there is called PowderFace Trail. It goes all the way through north to the highway but, well, I think you need the vehicle for that. Anyway, hang a right there and you will come upon Forgetmenot pond. It is quite pretty there and the area is quite photogenic. There are some other longer trails there - we didn't have time to try any out the other day when were there - we were out driving late in the day and ended up here.
Here are a few pictures of the road in and the area:
Above are more views of the pond.
Yes, we almost got caught in the hail storm that day. The next one is near the pond.
I hope you enjoy these photos - It's a beautiful drive out there and there are plenty of trails. Lots more info on the trails here: Elbow Valley Map