I just recently took up Geocaching as yet another hobby (see my stat bar on the right side of the page). It has lots of interesting aspects from searching the web sites for caches to add to my list, traveling to the site and then doing the actual search. I have been doing urban caches near my house lately but want to start going to the mountains, desert etc. to look for the wilderness hides.
Here are some good resources to start with if you are interested:
Geocaching.com – corporate site run by Garmin including optional premium membership
OpenCaching – open source alternative to Geocaching.com
c:geo – great Android app that can download caches from Geocaching.com
GeoLex – The Lexicon of Geocaching, great summary of acronyms that you will see in cache logs and elsewhere
Here’s a cutesy video by Geocaching.com:
A related sport is Munzee, this one doesn’t use physical containers, just labels with QR codes. The only way to log a find is to scan the QR code with your device. I haven’t done any of these yet but want to try a few in the next week or so. This one keeps scores, has level ups etc. since you can’t really cheat like you can with traditional physical caches.
Munzee – 21st Century Scavenger Hunt. Find. Capture. Reward.