Our first hike at Squaw Valley was the Shirley Canyon trail. An great hike with a constant delight at every turn. It is bit more challenging than the Thunder Mountain Trail, but I recommend both. The nice thing about the Squaw hikes you can get food and drinks, take a swim, sit in the hot tub or go skating at high camp… depending on the time of the year. Then simply take the tram down.
Squaw Website description: Thunder Mountain Trail (approximately 3.2 miles, 2000′ elevation gain/loss) : The Thunder Mountain Trail is the perfect hike to explore Squaw Valley from the base to High Camp. Hikers start their adventure at the bottom of the Exhibition chairlift. From here you will walk towards the very wide bridge, which is where the route begins. The trail is clearly indicated by blue markings. Continue on the trail winding up the mountain. Your final destination will be just below the paintball fields at High Camp. PLEASE NOTE that the Thunder Mountain Trail passes over the summer construction access road. Please be aware of vehicle and heavy machinery traffic. Do not continue on the summer construction access road as it is closed for hiking.