The actual lake named Lake Placid is not the same as Mirror Lake in the village centre — it is a larger, wilder body of water about 3 kilometres north of the village, accessible by canoe, kayak, and motorboat but without the beach or walking path of Mirror Lake. The lake is surrounded by forested hills and has several islands; it is best experienced by water.
Canoe and kayak rentals are available at the lake's south end near the village. The lake has two islands that can be paddled to, and the shoreline is mostly undeveloped. In summer, dawn on Lake Placid — mist rising from calm water with the mountains behind — is one of those genuinely peaceful moments that the Adirondacks do well. The confusion between the village name and the lake name is ancient and unsolvable.