From the rim, look down for Phantom Ship, a jagged island of older volcanic rock standing apart from the caldera wall. The view shifts along the rim, with Applegate Peak ridge to the west and Dutton Cliff to the east. Steep cliffs fall away below the path, so stay on the established trail, especially when turning toward the lake. For a photo, keep Phantom Ship low over the water and include a little rim, tree, or ledge in the foreground to give the island scale. Walk to another opening for a different angle instead of stepping off the trail.