Vermillion Lakes Drive is a 4.3km long scenic road bordering a series of pretty lakes, each of which have views onto Mount Rundle and other dramatic peaks. The surrounding marshland is full of wildlife.
There are interpretive panels to read and a floating dock. There's not a ton of parking along the road (just a few spots in two places near the first lake) - more is available at the Fenland Trailhead or Banff Train Station.
Vermillion Lakes is very popular with cyclists and local dog walkers. It's also a favourite of photographers, especially for sunsets, sunrises and wedding/engagement shoots.
A Parks Canada parks pass is required to explore Banff National Park ($22/day for a vehicle of up to 7 people).