Theire are several hikes in the immediate Telluride area, here are some of our favorites:
Bear Creek
Bridal Veil Falls
Jud Weibe
If you have a rental car our favorite hikes outside of Telluride are:
The Peaks Hotel has a wide variety of outdoor activities directly on the property including:
Golf
Tennis
Pickle Ball and Paddle Tennis
Disc Golf
There are several activities outside of the resort with amazing guides around the Telluride area including:

Guided Jeep Tour - Perfect way to get high into the alpine for expansive views of the San Juans, wildflowers and fall colors
Biking - Telluride Ski Resort or the Valley Floor is an exhilarating and fun way to explore the San Juans.
ATV Tour - Adventurous way to cruise around the mountains through a guided path