There are two trails by which you can explore Walnut Canyon National Monument.
The Rim Trail is a 0.7-mile (1.1 km) self-guided route along the canyon rim. It's described by the park as "easy and fairly level," and the first part of the route is paved and accessible. It offers two overlooks of the canyon and passes a pit house and pueblo set back from the canyon rim.
The more challenging Island Trail is only a mile (1.6 km) round-trip, but the paved trail is described by the park as "Strenuous, especially for those not acclimated to 7,000' (2,134 m) elevation." The paved loop trail drops 185 feet (56 m), with more than 240 steps, but it’s worth the effort. You’ll pass more than 25 cliff dwellings, with a steep climb to come back up to the rim. In the late fall and winter, this trail is sometimes closed due to snow and ice.