Elk Lake is believed by some to be the true source of the Deschutes River . The banks of Elk Lake are sandy and attract many casual campers, canoeists, and sightseers in search of the perfect suntan. Cool winds through the pines provide comfort during the hot summer. The winds also contribute greatly to the main fare on Elk Lake - sailing and wind surfing. Summer homes nestled amongst the pines along a portion of the shoreline encourage dreaming by those sleeping in tents.
Elk Lake provides good habitat for waterfowl, wildlife, brook trout, and kokanee salmon.
Oregon Department of Fish and Wildlife plants up to 20,000 brook trout each year in Elk Lake, and both the brookies and kokanee engage in natural reproduction. The average brookie is 12 inches with some pushing 4 pounds in size. Kokanee run a bit smaller in the 6-10 inch range. The kokanee hold in the southern end of the lake near the lava flow. Typically kokanee will suspend themselves in a minimum of 20 feet of water, so work the deeper parts of the lake.