I hiked this trail a few times while I was temporarily staying in the area. Since I was hiking in summer, I liked this trail because a lot of it is in shaded foresty areas, so you stay a little cooler. If you go clockwise, you start on a more well-used path that follows the creek, eventually making it to the Cedar Groves. Then the trail zigzags up the side of a hill. Once higher up, the trail follows the side of a hill, where you can occasionally glimpse a view of the surrounding hills. Most of the time, you don't have much of a view of the surrounding area since you're in a forest setting, but it's still pretty there. You also pass by a waterfall. The last half of the hike is gradual decline along the equestrian part of the trail, which also goes along a creek. On one of my hikes, I chose to go the loop backwards, saving the waterfall and pretty Cedar groves area for the later half, but that also meant starting out going uphill, which made it a little harder. If you go the equestrian route first, you can also veer off the path and continue upwards, where there are some nice views overlooking the valley.
SOMEONE needs to give some info about horseback riding. There is an equestrian friendly parking area just up the street from the main Liberty Lake park. It is located on S. Idaho road, just past the ORV park. From there you can hit the trail that eventually meets up with the main hiking trail before it branches off again a little while later. The ride was beautiful!