Futaleufú was put on the map by travelers with one goal in mind: to raft or kayak the internationally famous Class V waters of the village's namesake river, although just as many come to enjoy the opportunities to fly-fish, horseback ride, or just hang out amid the pristine alpine setting here. The Futaleufú is one of the most challenging rivers in the world. You've got to be good -- or at least be experienced -- to tackle frothing white-water so wild that certain sections have been dubbed "Hell" and "The Terminator." But rafting and kayaking companies will accommodate more prudent guests with shorter sections of the river, and the nearby Río Espolón offers a gentler ride. A paddling trip in this region is undoubtedly one of the best far-flung adventures a traveler can have in Chile.
For fishing licenses, go to the municipal building at O'Higgins 596 (tel. 65/721241); it's open April to November Monday through Friday from 8am to 1:30pm and 2:30 to 5pm, December to March Monday through Friday 9am to 7pm (outside the Municipalidad).