It's a short trail, good to get the extra energy out the kids.
The Observation Point Trail starts next to the lodge and heads downhill along the same route as the Monarch Loop takes on the return. The trail quickly departs from the road to follow fun singletrack through the woods.
At the bottom, keep going past the lift to take the faint ATV track on the right. Where it hits the trees it joins a clearer road-trace that climbs over the creek to eventually loop back along an open slope. Your reward for the climb is all the great views available from Observation Point!